The Tashkent International Investment Forum has set the stage for Uzbekistan’s ambitious plans to attract foreign investment. President Shavkat Mirziyoyev announced the establishment of a new international financial centre, which will operate under a legal framework inspired by English common law. This move aims to enhance investor confidence by providing robust legal protections and a familiar regulatory environment.
Key to this initiative are extensive tax incentives, including exemptions from various taxes for up to 50 years. This could significantly lower the barriers for foreign companies looking to enter the Uzbek market, potentially transforming the economic landscape. The government is also preparing legislation to support alternative investment funds, which could attract venture capital and private equity.
Mirziyoyev highlighted that Uzbekistan has already secured over $150 billion in foreign investment, with a notable $43 billion inflow last year alone. The focus on high-value manufacturing, green energy, and artificial intelligence indicates a strategic shift towards sustainable and innovative economic growth.
As Uzbekistan strengthens its international partnerships, the implications for UK businesses could be substantial. Increased collaboration in sectors like energy and infrastructure may open new avenues for investment and trade, marking a pivotal moment for both regions in their economic development journeys.
Source: Euronews
