On September 24, 2019, Capital Market Development Agency, together with Uzbekistan’s embassy in London, made a presentation on reforms in the capital market of Uzbekistan.
More than 40 businesspeople and experts attended the event.
The First Deputy Chairman of the Senate of the Oliy Majlis Sodik Safoyev informed about the implementation of the Action Strategy on five priority areas of development of the Republic of Uzbekistan in 2017-2021, socio-political and socio-economic reforms, measures taken in supporting investors and in development of the capital market. It was noted that the level of state intervention in the economy is declining, and transparency of state structures’ activity is ensured.
Investors became interested in privatization issues in the country.
During the panel session, the importance of developing the local capital market was considered, since in the future this will positively affect the financing of foreign markets. In addition, the cooperation of Credit Suisse with companies with a state share in privatization, the criteria for evaluating investments in Uzbekistan, the most important of which is the availability of financial statements in accordance with international standards, were highlighted.
Participants of the event noted that denationalization of the economy will positively affect the welfare of the population, but this process is not easy and will take several years. However, if Uzbekistan adheres to the chosen direction, then the country’s sustainable development is ensured.
