A roundtable on "New Opportunities for developing Uzbekistan’s Capital Market", organized by the National Agency of Perspective Projects of the Republic of Uzbekistan (the Agency) was held at the Chamber of Commerce and Industry of Uzbekistan.

The event was attended by representatives of relevant ministries and departments, banks, major issuing companies, authoritative organizations, as well as professional participants in the securities market and capital market experts.

Opening the meeting, Vyacheslav Pak, the First Deputy Director of the Agency, noted: "Despite the work already done to develop the securities market and the capital market in general, there is a significant internal demand for investments in the country that is not being adequately met. This is due to the lack of instruments and products on the market that would be attractive to various groups of investors
and issuers.

It should be noted that the Agency is not simply seeking to introduce into Uzbekistan's practice additional capital market instruments that have already proved their effectiveness in various countries
and economies. It has been implementing a consistent policy aimed at the institutional development of the securities and capital market in the country."

The main goal of the event was to provide a detailed explanation of the essence, significance, and international experience of implementing instruments such as currency bonds and the listing of financial instruments of foreign issuers on the local stock market. During the discussion, the prerequisites, legislative shortcomings, and infrastructure requirements necessary for the implementation of these initiatives were addressed. Participants also had the opportunity to compare new instruments with alternative "traditional" financial products, such as deposit products.

Taking measures aimed at further developing of the capital market in accordance with modern requirements and trends, as well as its integration into the global market, will undoubtedly bring positive results.

One of the key aspects is reducing the volume of cash and unofficial foreign investments by citizens. This will increase the share of public funds in the official turnover, which, in turn, will lead to increased tax revenues to the budget. In addition, this will provide an additional incentive for the development of related services in the domestic capital market.