A new financial center in Tashkent: A $25 billion plan

Uzbekistan is stepping into a new phase of accessing international capital markets. The President has signed the Constitutional Law "On the Tashkent International Financial Center," and a special financial zone based on English law principles will now be established in the capital.

Why is the Tashkent International Financial Center important?

The Tashkent International Financial Center (TIFC) is a major project aimed at creating financial infrastructure in the country that meets international standards.

Its main goal is to create a transparent, reliable, and competitive environment for foreign investors. In other words, Uzbekistan aims to become not just a market that offers investment opportunities, but a hub where capital, legal guarantees, and financial services are concentrated in one place.

If this project functions correctly, Tashkent could become one of the major financial hubs in the region.

Why is English law being chosen?

One of the most important aspects of the center is its special legal regime. It is intended that English common law and equity principles will be applied within the TIFC territory.

This is a significant signal for international investors, as English law is widely used in many major financial transactions, investment contracts, and cross-border agreements.

In other words, an investor receives a clear answer in advance to the question, "What rules will I be working under here?" This is a major factor in building trust for capital.

There will be an independent court and a special regulator

It is planned that an independent financial regulator, the Tashkent International Commercial Court, and modern dispute resolution mechanisms will operate within the Tashkent International Financial Center.

This will serve to strengthen legal guarantees for investors. For companies investing large amounts of capital, it is not just tax incentives that matter, but also how a court would handle a dispute should one arise.

A $20–25 billion investment plan by 2030

According to estimates, the Tashkent International Financial Center could attract an additional $20–25 billion in investments by 2030.

Furthermore, the project is expected to provide an additional boost to the country's GDP growth, create up to 15,000 highly skilled jobs, and serve to improve the qualifications of 10,000 specialists.

These numbers look good on paper. However, the main test will be in practice: will investors come, will they trust the judicial system, will the regulator work independently, and will a truly favorable environment for business be created?

Which sectors will be covered?

The TIFC is not just for banks. It will be developed as a broad financial ecosystem.

The following areas are expected to be covered in the center:

• banking and investment services;
• capital market;
• insurance;
• Islamic finance;
• fintech;
• digital assets;
• asset management;
• legal and consulting services.

If these areas are concentrated in one place, not only the flow of money but also the flow of knowledge, technology, and specialists in Tashkent could strengthen.

What benefits will there be for foreign investors?

Special conditions are also provided for participants of the center. In particular, there are provisions for ease in hiring foreign specialists, entry visas for up to 5 years, and the ability to repatriate capital or income derived from activities within the center without restrictions.

This is very important for foreign business. Because if an investor is not confident that they can freely manage the money, profit, and capital they have invested, they will not rush to make major decisions.

The signal here is clear: Uzbekistan is not limiting itself to saying "come and invest," but is also building a legal format that says "this is how the rules of operation will work."

Why is the experience of the UAE and Kazakhstan important?

It is stated that the experience of the UAE and Kazakhstan is being studied in the creation of the Tashkent International Financial Center. This is not without reason.

The Dubai International Financial Centre and the Astana International Financial Centre are examples that have shown how such models work in the region. In them, a special legal regime, a separate judicial system, and convenient financial infrastructure for investors play a key role.

The question for Uzbekistan is: can Tashkent not just copy this model, but adapt and apply it to its own economy and regional opportunities?

Main opportunity and main risk

The project's potential is great: revitalizing the capital market, attracting international investors, improving the quality of financial services, and turning Uzbekistan into a regional financial hub.

But there is also risk. If the special regime remains on paper, if the regulator's independence is insufficient, or if investors encounter bureaucracy in practice, it will be difficult to achieve the expected results.

In other words, this project cannot be sustained by a "we gave it a big name, that's enough" format. Trust, transparency, and long-term stability play a decisive role here.

A new economic page for Tashkent

The Tashkent International Financial Center could become one of the strategic projects for the Uzbek economy. It is aimed at bringing the country closer to global capital markets, creating a new legal space for investors, and expanding the financial services ecosystem.

Now there is only one main question: will the Tashkent International Financial Center turn from a big plan on paper into a real investment magnet?

The answer will be shown by the practical results by 2030.