Uzbekistan to Create Roadmap From 120 Foreign Investor Recommendations

Uzbekistan plans to prepare a formal roadmap based on 120 recommendations submitted by foreign investors. The proposals were presented during a meeting of the Foreign Investors Council held alongside the final day of the Tashkent International Investment Forum. The government will monitor implementation of the recommendations and report progress directly to President Shavkat Mirziyoyev.

The proposals cover sectors ranging from banking and energy to artificial intelligence, capital markets and corporate governance. President Shavkat Mirziyoyev stated that recommendations from foreign investors had already contributed to changes in tax legislation, financial regulation and reporting requirements for international companies operating in Uzbekistan.

"The investors' proposals are being translated into practical government policies," he told participants.

According to the president, the Foreign Investors Council has expanded from 54 to 85 member companies over the past year and now represents businesses operating across 23 sectors of the economy. The council's executive committee includes representatives from the European Bank for Reconstruction and Development, the Asian Development Bank and the International Finance Corporation.

Among the reforms under discussion are plans to establish the Tashkent International Financial Centre and adopt a constitutional law governing its operation.

Uzbekistan has also begun the process of joining the OECD Declaration on International Investment and Multinational Enterprises. During talks with EBRD President Odile Renaud-Basso, the two sides reviewed a partnership portfolio worth more than $7 billion, making Uzbekistan the bank's largest partner in Central Asia.