On March 25, President Shavkat Mirziyoyev was briefed on the establishment of the Tashkent International Financial Center, the launch of the International Center for Digital Technologies, and the introduction of Islamic finance mechanisms into the banking system.
“Many international companies, having assessed regional risks, have already begun exploring new markets. For us, this is a historic opportunity. In such a situation, we must not miss the moment and must attract international financial companies as quickly as possible,” the president noted.
He added that to achieve this year’s goal of attracting over $50 billion in investment, it is necessary to facilitate investors’ entry into the Uzbek market and provide them with modern infrastructure, a legal regime aligned with international standards, additional incentives, and a reliable and transparent business environment.
The Tashkent International Financial Center will become an effective tool for attracting new types of investment and ensuring sustainable economic growth. By 2030, the center is expected to attract an additional $20–$25 billion into the economy, contribute up to 1 percent of annual GDP growth, create up to 15,000 highly skilled jobs, and support the professional development of 10,000 specialists.
For the center’s residents, broad opportunities will be created, including the free movement and repatriation of capital, unrestricted foreign exchange operations, access to modern payment instruments, including digital assets, as well as a preferential tax regime and simplified visa procedures.
The second area is the establishment of the International Center for Digital Technologies under the Enterprise Uzbekistan brand.
A special legal regime is planned for this center until 2100. Within the center’s “regulatory sandbox,” it will be possible to test new solutions, pay salaries in foreign currency, implement international labor standards, and process personal data based on international standards and cloud technologies. Favorable conditions will be created for the protection of intellectual property, investment, startups, while exports, and customs and tax benefits will be provided.
Artificial intelligence technologies, digital transformation, research and development, certification, startups, and data centers have been identified as the main areas of the center’s activity.
By 2030, it is planned to attract up to 1,000 companies through the center, create more than 300,000 jobs, and achieve export potential of up to $5 billion.
The third area is introducing Islamic banking in the country with the establishment of an Islamic Finance Council under the Central Bank.
This year, Islamic “window” operations are planned to be launched in at least one commercial bank, and between 2026 and 2030, two fully fledged Islamic banks are planned to be established.
