Capital market development in collaboration with US agencies

Tashkent, Uzbekistan (UzDaily.com) -- The United States government’s interagency team continues to help Uzbekistan build and develop a capital market.

From 14 July, the team has been organizing a series of interactive online trainings and presentations focusing on the role of the capital market in the country’s economic development, market surveillance mechanisms and investor protection.

Senior Financial Economist and General Counsel to the US Presidential Administration, Mr. Robert Fisher, shared his experience of capital market development and its impact on economic growth.

The event was attended by over 40 representatives of state bodies of Uzbekistan, including the Administration of the President of the Republic of Uzbekistan, the Senate of the Oliy Majlis, the Ministry of Economic Development and Poverty Reduction, the Central Bank of Uzbekistan, the Commissioner under the President of the Republic of Uzbekistan for the protection of the rights and legitimate interests of business entities (Business Ombudsman).

“We are delighted with the new capacity building training program launched by Dr. Robert Fischer, Senior Economist at the White House. These webinars focus on the critical role that the local capital market plays in creating a nation’s wealth. We hope that our joint efforts with American partners will make a significant contribution to unlocking the potential of the capital market in Uzbekistan, ”concluded Atabek Nazirov, Director of the Agency for Capital Market Development.

The US government’s interagency team includes the US Department of State, the US Department of Commerce, the US Treasury, the US Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC). Assistance includes drafting a new securities law for Uzbekistan that incorporates international best practices.