BAKU, Azerbaijan, October 24. Uzbekistan is
advancing plans to establish the Tashkent International Financial
Centre (TIFC), with representatives of international financial
institutions, investment firms and legal organizations discussing
the project’s development, potential investment barriers and
regulatory infrastructure at a meeting in Tashkent on October
23.
According to a statement by the country’s Ministry of
Investment, Industry and Trade, the meeting was held by the
Interagency Working Group of the Council of Foreign Investors under
the President of Uzbekistan.
Representatives of the Asian Development Bank (ADB), JPMorgan,
the International Finance Corporation (IFC), the European Bank for
Reconstruction and Development (EBRD), BlackRock, Sullivan &
Cromwell, Dentons and other organizations attended the meeting.
Nodirjon Juraev, project coordinator at the Presidential
Administration, provided an update on efforts to establish the
center. Participants examined potential barriers to investment and
identified priorities for developing its financial, legal and
professional infrastructure, including opportunities for foreign
partners to contribute to the center’s ecosystem.
Hubertus Väth, the Managing Director of Frankfurt Main Finance
and Vice Chair (Deputy Chairman) of the World Alliance of
International Financial Centers (WAIFC), presented recommendations
for launching the TIFC.
The meeting also noted that the center had joined the WAIFC, an
international association of financial centers.
Participants exchanged views on international experience and put
forward proposals for implementing the project, highlighting the
TIFC’s potential to attract foreign investment and expand financial
products, services and infrastructure in Uzbekistan.
