Uzbekistan and Hong Kong to expand investment cooperation

Uzbekistan and Hong Kong intend to deepen investment cooperation. According to the Ministry of Investment, Industry, and Trade of Uzbekistan, Deputy Minister Ilzat Kasymov held talks with a Hong Kong delegation led by Paul Lam, Secretary of Justice of the Hong Kong Special Administrative Region. During the meeting, the parties discussed prospects for expanding investment cooperation, as well as further steps for interaction in the financial and legal sectors.

Particular attention was paid to the development of the Tashkent International Financial Center (TIFC). Uzbekistan expressed interest in leveraging Hong Kong's experience and expertise in creating an international financial infrastructure. Involving leading Hong Kong companies from the financial, investment, and legal sectors in the development of the TIFC was also discussed.

A significant topic of discussion was the preparation of the Agreement on the Promotion and Protection of Investments (BIT), as well as a number of other agreements related to investment and finance. Implementation of these agreements is expected to provide additional guarantees for investors, create a more favorable environment for business activity, and facilitate increased mutual investment between Uzbekistan and Hong Kong.

The Tashkent International Financial Center is being established in Uzbekistan under a special legal regime. Its key objectives include attracting both domestic and foreign investment, developing capital markets and financial services, and integrating the national financial market with international capital markets.