Towards capital market development

On September 7, 2023, the V international conference “Capital Market of the Republic of Uzbekistan” was held in Tashkent.

At the beginning of the event, the organizers of the conference and the First Deputy Director of the National Agency for Advanced Projects of the Republic of Uzbekistan (NAPP) Mr. Vyacheslav Pak delivered welcoming remarks.

The speakers of the plenary session “Financial Market of Uzbekistan: Development Strategy and Regulation” were:

Alisher Miraliev – Deputy Director of the State Assets Management Agency of Uzbekistan

Farrukh Karabaev – Deputy Chairman of the Competition Promotion and Consumer Protection Committee of Uzbekistan

Georgiy Paresishvili – Chairman of the Republican Stock Exchange

Rashid Usmanov – General Director of the Republican Currency Exchange

Sherali Abduzhabbarov – General Director of the Central Securities Depository

Nabikhon Samatov – Deputy Chairman of the Board of the Republican Commodity Exchange.

The moderator was Mr. Atakhanov Bahodir, Chairman of NAII, which co-organized this conference for the third year in a row.

In the section “Development of International Cooperation: investments in Uzbekistan and the Placement of Local Companies in the Global Market” the following speakers were given the floor:

Sergey Lyalin – founder and head of the Cbonds group of companies

Robert Jensen – Managing Director and co-founder of Mosaic Financial Uzbekistan

Scott Osheroff – CIO of Asia Frontier Capital.

Head of the Business Law program at the University of Wismar in Germany, Dr. Hans-Joachim Schramm spoke about reforms in the joint stock legislation of Uzbekistan from a European point of view.

Separate sections of the conference were devoted to successful cases in the domestic capital market and new investment opportunities. Representatives of the country's largest investment companies, the capital and crypto-asset markets regulator (NAPP), PSB, FDG, and Zood companies, as well as electronic trading platforms E-Auksion and ITS were speakers in these sections.

Conference participants had the opportunity to exchange opinions and experiences, ask the speakers questions, and establish contacts with experts from different sectors of the financial market.

The conference was held in the light of the resolution of the President of Uzbekistan “On additional measures for the development of the capital market” adopted on September 2, 2023, which approved the “Road Map” for the development of the capital market in 2023–2025. This resolution determined NAPP as a new authorized state body for regulating the insurance and capital markets.

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