Supportive Environment
Uzbekistan’s transformation offers real opportunity for foreign investors to expand their presence in the country. Through reforms, infrastructural improvements and governance, international businesses are witness to a world class, business-friendly environment.
Central Asian International Financial Center
Uzbekistan is establishing the Central Asia International Financial Center (CAIFC) in Tashkent, driven by the 2030 Strategy. The CAIFC will support foreign investors, enhance Uzbekistan's financial market, and promote sectors like fintech, digital assets, green finance, and Islamic banking. With a benefits for investors, CAIFC will improve corporate governance, attract investments, and create jobs. Significant progress has been made, including feasibility studies, international collaborations, and strategic planning. The CAIFC is set to play a crucial role in Uzbekistan's economic reforms and global financial integration.
Tashkent International Arbitration Center
The Tashkent International Arbitration Center (TIAC), established in 2018, was created to improve Uzbekistan's investment climate. Operating under the 2021 International Commercial Arbitration Law it is also compliant with the UNCITRAL Model Law. TIAC offers tax exemptions and work permit waivers for foreign arbitrators, and allows the application of foreign laws. Arbitrators can operate without local law licenses, and TIAC’s decisions are enforceable globally under the New York Convention. TIAC conducts multilingual and online arbitrations, and has handled nearly 70 international cases. Some key incentives include zero administration fees, a strategic partnership with HKIAC, and specialized rules for technology disputes.
Foreign Investor Council under the President of Uzbekistan
The Foreign Investor Council under the President of Uzbekistan was created in 2019. Operating under presidential decree, it facilitates dialogue between the government and major foreign investors. Meeting quarterly, the Council compromises of representatives from international corporations, diplomatic missions, and financial institutions. Members can discuss and propose changes to laws and regulations. The Council has helped resolve investor disputes, advised on the investment strategy and supported public-private partnership frameworks. It has played a role in improving Uzbekistan's ranking in international business indices and attracting new foreign investment.