President Shavkat Mirziyoyev announced the establishment of the Tashkent International Financial Center at the Tashkent International Investment Forum with the aim of reliably protecting investors' rights and increasing the country's investment attractiveness.
According to the head of state, ensuring investors' rights through strong institutions and international mechanisms is one of the priority tasks today. To this end, practical work on establishing this center began in March of this year.
It is noted that the legal status of the center will be enshrined by a Constitutional Law. A special tax regime will be introduced for its participants, with the profit tax, value-added tax, property tax, and customs duties set at zero percent.
Also, the free movement of capital and the possibility of making settlements in any currency will be guaranteed. Modern infrastructure will be created in the center's territory for the development of financial technologies, digital assets, and "green" finance.
According to the President, an independent financial regulator with the authority to adopt regulatory legal acts will also operate in the territory of the center.
Furthermore, a special legal regime based on the principles of English law will be introduced in the Tashkent International Financial Center. Also, an independent Tashkent International Commercial Court will be established with the participation of reputable foreign judges and international experts.
At present, measures are also being taken to develop the institution of investment mediation. In this regard, Uzbekistan intends to join the UN Singapore Convention on Mediation.
According to the head of state, as a result of these measures, investors will have the opportunity to use legal protection mechanisms that meet international standards directly on the territory of Uzbekistan.
In the initial stage, the tax and customs benefits introduced for the center's participants, as well as the special legal regime, will be valid for a period of 50 years.
The President called on local and foreign investors to make effective use of the new opportunities being created in the country and the emerging financial ecosystem.
