BAKU, Azerbaijan, June 18. Uzbek President Shavkat Mirziyoyev chaired a plenary session of the Foreign Investors Council to review progress on investment reforms and discuss new initiatives.
This was reflected in the statement by the press service of the Uzbek president, following the plenary session held on June 18 at the International Congress Center in Tashkent, bringing together senior executives from international companies, banks, financial institutions, and global organizations.
Among the participants were European Bank for Reconstruction and Development (EBRD) President Odile Renaud-Basso and representatives of investor councils from Central Asia and the South Caucasus.
The session is aimed at attracting foreign capital, modernizing the financial sector, and strengthening Uzbekistan's position as a regional investment destination.
Addressing the gathering, Mirziyoyev said the council has evolved into an important platform for advancing practical reforms and strengthening cooperation between the government and the international business community. The council, which now operates as an independent association, includes 85 companies representing 23 sectors of Uzbekistan's economy.
The president highlighted regulatory reforms implemented with input from council members, including amendments to the Tax Code, streamlined financial reporting and regulatory procedures, and the removal of several requirements for foreign companies using international financial reporting standards.
Uzbekistan is also continuing efforts to align its legislation with international practices. Authorities are preparing a law on alternative investment funds, introducing responsible business conduct standards, and harmonizing technical regulations with global requirements. The country has also begun the process of joining the OECD Declaration on International Investment and Multinational Enterprises and plans to adopt a constitutional law establishing the Tashkent International Financial Center.
"The activities of the Council's specialized working groups have become more systematic. Over the past period, more than 50 meetings have been held on issues related to financial market development, the improvement of collateral legislation, responsible business conduct, tax administration, energy, land administration, professional training, and other areas of mutual interest to the state and investors." Mirzyoyev noted.
Ahead of the latest session, international partners submitted 120 proposals that were consolidated into seven priority areas, including investment climate reforms, taxation and cadastral systems, banking and finance, corporate governance, energy, artificial intelligence, and the digital economy.
The proposals also focused on further currency liberalization, the introduction of modern financial instruments such as Islamic insurance and green financing, development of the banking asset market, and wider adoption of environmental, social, and governance (ESG) principles.
Following the meeting, the government was instructed to consolidate all recommendations into a unified roadmap with specific implementation deadlines and monitoring mechanisms. Officials overseeing Uzbekistan's investment agenda will provide quarterly progress reports directly to the president.
The session concluded with thematic presentations, remarks from council members, and a question-and-answer discussion.
The meeting highlights Uzbekistan's continued efforts to position itself as one of the most investor-friendly markets in Central Asia. The government's emphasis on regulatory modernization, international financial standards, OECD integration, and the planned Tashkent International Financial Center signals a long-term strategy to attract higher levels of foreign capital. The inclusion of emerging areas such as artificial intelligence, green finance, and ESG standards suggests that Tashkent is increasingly aligning its economic reforms with global investment trends while seeking to sustain the momentum of its broader New Uzbekistan reform agenda.
