Uzbekistan advances plans for Tashkent International Financial Centre

Uzbekistan is advancing plans to establish the Tashkent International Financial Centre (TIFC). At a meeting in Tashkent on October 23, representatives of international financial institutions, investment firms and legal organizations discussed the project's development, potential investment barriers and regulatory infrastructure. The meeting was held by the Interagency Working Group of the Council of Foreign Investors under the President of Uzbekistan, according to a statement by the Ministry of Investment, Industry and Trade.

Attendees included the Asian Development Bank, JPMorgan, the International Finance Corporation, the European Bank for Reconstruction and Development, BlackRock, Sullivan & Cromwell and Dentons. Nodirjon Juraev, project coordinator at the Presidential Administration, gave an update on efforts to establish the center. Participants identified priorities for developing its financial, legal and professional infrastructure, including opportunities for foreign partners to contribute.

Hubertus Väth, Managing Director of Frankfurt Main Finance and Vice Chair of the World Alliance of International Financial Centers (WAIFC), presented recommendations for launching the TIFC. The meeting also noted that the center has joined the WAIFC. Participants highlighted its potential to attract foreign investment and expand financial products, services and infrastructure in Uzbekistan.