Tashkent, Uzbekistan (UzDaily.com) -- Yesterday, on 9 September, an international conference "Capital Market of the Republic of Uzbekistan" was held in Tashkent.

This event was attended by representatives of leading commercial and investment banks, insurance and investment companies, experts from Uzbekistan, Russia, Kazakhstan, Belarus, as well as the leadership of the Ministry of Finance of Uzbekistan.

Deputy Minister of Finance of Uzbekistan Odilbek Isakov informed the conference participants about the ongoing activities to develop the country’s capital market, including improving the regulatory framework and market infrastructure.

The first plenary session of the conference was devoted to the issues of infrastructure and regulation of the financial market of Uzbekistan, which was moderated by Bakhodir Atakhanov, Chairman of the National Association of Investment Institutions (NAII). Taking into account the still prevailing state participation in the country’s economy, at this session Alisher Miraliev, the director of the AUGA department, outlined in detail the measures taken to improve the efficiency of state assets management, including the transformation and simplification of privatization procedures for state-owned companies, companies were announced, state shares in which would be put up for sale soon.

The NBU and Uzbek Republican Currency Exchange acquainted the participants of the event with the achievements in their activities in the securities market and informed about the plans for the near future in this direction.

According to NAII, several members of the association - leading investment institutions (Freedom Finance, Ansher, Kapital Depozit) spoke at the session "Domestic securities market of Uzbekistan: plans, prospects, opportunities", which discussed in detail the challenges and problems of the market, as well as voiced proposals experts on improving market conditions and effectively using the potential of the country’s capital market.

It was also significant that this event was held in the Hilton hotel at the same time as the congress of the UzLiDeP party in a nearby building, where the candidacy of Shavkat Mirziyoyev was nominated for the presidential elections (on 24 October 2021) and plans were announced to bring the country’s stock market to US$7 billion over the next 5 years.