The Ministry of Investment, Industry and Trade of Uzbekistan announced plans to expand investment interaction and deepen ties between Uzbekistan and Hong Kong in the financial and legal sectors.
As part of this cooperation, Deputy Minister of Investment, Industry and Trade of Uzbekistan Ilzat Kasymov held a meeting with a delegation from Hong Kong led by Paul Lam, Secretary for Justice of the Hong Kong Special Administrative Region.
The main focus of the meeting was on the development of the Tashkent International Financial Centre. Uzbekistan is considering utilizing Hong Kong's experience and expertise in creating international financial infrastructure.
The parties also discussed attracting leading financial, investment, and legal companies from Hong Kong to work on the development of this financial center.
An important part of the negotiations was the preparation of a Bilateral Investment Treaty (BIT), which will aim to facilitate and protect investments, as well as the development of a number of other agreements in the field of investment and finance.
It is expected that the implementation of these agreements will provide additional guarantees for investors, create more favorable conditions for doing business, and increase mutual investments between Uzbekistan and Hong Kong.
The Tashkent International Financial Centre is being established in Uzbekistan under a special legal regime. Its goals include attracting both domestic and foreign investments, developing capital and financial services markets, and integrating the national financial market with global capital markets.
