Tashkent International Financial Center to be established

On March 25, President Shavkat Mirziyoyev reviewed a presentation on the establishment of the Tashkent International Financial Center, the launch of an International Digital Technologies Center, and the introduction of Islamic finance mechanisms in the banking system, the presidential press service reported.

According to the statement, intensifying geopolitical tensions worldwide are increasing competition for attracting investment. Uzbekistan’s rich natural resources, economic potential, and ongoing reforms are seen as providing significant advantages in this regard.

“Many international companies are reassessing regional risks and exploring new markets. This is a historic opportunity for us. We must not miss this moment and should rapidly attract international financial companies,” the president said.

To achieve the goal of attracting more than $50 billion in investment this year, it is necessary to simplify market entry for investors, provide modern infrastructure, establish a legal framework aligned with international standards, and ensure a reliable and transparent business environment.

The presentation outlined three key priorities aimed at enhancing the country’s investment attractiveness: establishing international financial and digital technology centers, and introducing Islamic finance services.

Discussing the Tashkent International Financial Center, officials noted that it could serve as an effective tool for attracting new types of investment and ensuring sustainable economic growth. According to projections, by 2030 the center could attract an additional $20–25 billion to the economy, contribute up to 1 percentage point annually to GDP growth, create up to 15,000 high-skilled jobs, and help improve the qualifications of around 10,000 specialists.

A special legal regime is planned for the center. Under this framework, elements of English common law will be applied insofar as they do not contradict national legislation. The center’s governing bodies will have the authority to adopt their own regulations, and specialized institutions such as the Tashkent International Commercial Court and an international arbitration center will be established to resolve disputes.

Residents of the center will benefit from a wide range of incentives, including free movement and repatriation of capital, unrestricted foreign exchange operations, access to modern payment instruments including digital assets, preferential tax regimes, and simplified visa procedures. The center’s core activities will include financial and investment services, banking, insurance, digital assets, securities, payment systems, and financial technology services.