This report, produced by TheCityUK and the Capital Markets Development Agency of Uzbekistan, with support from the British Embassy, Tashkent, summarises insights from members of the UK-Uzbekistan International Financial Centre (IFC) Working Group and sets out recommendations on how authorities in Uzbekistan might go about developing an IFC in Tashkent.
Uzbekistan’s government has embarked on an ambitious programme of economic reforms. There are many aspects to this reform agenda, and developing a strong financial and professional services ecosystem in Uzbekistan is a critical priority. The creation of an IFC could help the country develop stronger capital markets, boost FDI and deepen its integration into the international financial system. This report covers some of the critical aspects of IFC development and we hope it will provide a starting point for a full scale feasibility study.
We look forward to working with our partners in Uzbekistan as this concept develops.