BAKU, Azerbaijan, August 18. Uzbekistan aims to attract at least $1 billion in foreign capital annually through IPOs as it expands domestic companies’ access to international capital markets.
This was announced in a statement published by the Press Secretary of the President of Uzbekistan following an open dialogue attended by the President with representatives of the country’s business community in the Khorezm Region.
According to the information, for the first time this year, a 30% stake in the National Investment Fund, which holds assets in 13 strategic companies, was listed on the Tashkent and London stock exchanges. The experience has also opened a path for private companies to access international capital markets.
Under the new initiative, Uzbekistan will work with leading investment banks to prepare local companies for capital-market listings. Fifty companies with annual revenues exceeding 1 trillion soums (about $84.2 million) will be selected each year for the acceleration program.
The government will cover 50% of the costs associated with preparing companies for IPOs and bringing their financial reporting into line with international standards.
The move comes as Uzbekistan seeks to deepen its capital market and provide large domestic businesses with alternatives to traditional bank financing.
In the course of the meeting, Mirziyoyev also highlighted the importance of developing skilled workers alongside investment in advanced technologies. He noted that Uzbekistan is implementing $50 billion worth of high-tech investment projects each year, with training and workforce development required to be included in such projects.
“The effectiveness of every project depends not only on technology, but also on qualified personnel who are able to use it,” Mirziyoyev said.
A vocational training model has already been launched in Urgench based on German and Chinese experience, preparing students for 10 professions including green energy, construction, nursing, agronomy and electrical engineering.
The model is expected to be expanded across Uzbekistan.
Entrepreneurs establishing technical colleges or taking over state technical colleges and training specialists according to international standards will also be allowed to deduct related expenses from their taxable income.
Through the program, Uzbekistan aims to train 1 million young people in modern professions and help them secure higher-paying jobs.
The measures link two of the government’s priorities — expanding access to international investment and developing the workforce needed to support increasingly technology-intensive projects.
