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ITOCHU and Deutsche Bank Join Uzbekistan's Council of Foreign Investors
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UzDaily
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ITOCHU and Deutsche Bank Join Uzbekistan's Council of Foreign Investors

The Japanese corporation ITOCHU and Deutsche Bank AG have become members of the Council of Foreign Investors under the President of Uzbekistan. The decision to accept the new participants was made on November 4 at a meeting of the Council's Executive Committee, chaired by the Minister of Investment, Industry, and Trade Laziz Kudratov.

The event took place at the Ministry of Investment, Industry, and Trade. Attendees included Andi Aranitasi, head of the European Bank for Reconstruction and Development's representation in Uzbekistan; Kanokpan Lao-Araya, Country Director of the Asian Development Bank; Neil McCain, Regional Manager of the International Finance Corporation, and Aziz Gafurov, Head of the Council Secretariat.

Participants reviewed the Secretariat's activity report for the first ten months of 2026. Discussions covered the work of ten interdepartmental groups, the promotion of investor initiatives, the establishment of the Regional Alliance of Investment Councils for Central Asia and the Caucasus (RAIC-CAC), and cooperation with business associations.

Currently, the Council unites more than 40 companies and financial institutions from over 15 countries. A work plan until the end of 2027 was also approved at the meeting. This plan includes about 70 working group meetings, interim Council meetings on November 25, 2026, May 18, and November 23, 2027, as well as the fifth plenary session scheduled for June 14–16, 2027.

The RAIC-CAC meeting is scheduled for April 9, 2027, and the presentation of the Investment Forecast is expected early next year. The Council's annual report for 2026 will be presented on December 16 at the FIC Year-End Session. This report is expected to include the results of a nationwide survey conducted by the ministry among more than 1000 respondents regarding the impact of foreign investment on the economy of Uzbekistan.

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Council for Foreign Investors of Uzbekistan Signs Agreement with EUROUZ
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Council for Foreign Investors of Uzbekistan Signs Agreement with EUROUZ

The Council for Foreign Investors under the President of Uzbekistan and the European-Uzbek Association for Economic Cooperation (EUROUZ) have concluded a memorandum of cooperation. The goal of this agreement is to strengthen business ties with European companies and attract investment to Uzbekistan.

The agreement provides for closer interaction between state structures and the business community, as well as support for European firms interested in entering the Uzbek market.

Details of Cooperation

According to the memorandum, both organizations intend to jointly hold business events and organize visits by business delegations. Furthermore, they plan to facilitate the exchange of market information and experience, expanding opportunities for European companies to interact with Uzbek partners.

It is expected that this agreement will serve as a basis for long-term partnership between the parties and will contribute to the further development of economic relations between Uzbekistan and European states.

Uzbekistan and INCEIF agree to expand cooperation in Islamic finance
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uzdaily.uz

Uzbekistan and INCEIF agree to expand cooperation in Islamic finance

The Central Bank of Uzbekistan and the INCEIF university from Malaysia have agreed to further expand their joint work in the field of Islamic finance.

At the Samarkand Forum on Islamic Finance, deputies of the Central Bank Chairman, Sanjar Nosirov and Nodirbek Achilov, discussed prospects for cooperation with INCEIF Chairman Tan Sri Azman Mokhtar. According to the press service of the Central Bank of Uzbekistan, participants reviewed the progress made under the memorandum of understanding signed between the two institutions on September 17, 2025, and also identified priority areas for further joint activities.

Joint work will cover research in the field of Islamic finance. The parties also discussed the preparation of analytical materials and feasibility studies, as well as the possibility of providing consulting services on the development and improvement of prudential requirements and liquidity standards for Islamic banks.

Educational initiatives were another topic of the meeting. An agreement was reached to continue professional development programs for Central Bank employees, including the Executive Master in Islamic Finance (eMIF) program. Furthermore, the parties discussed accelerating the process of translating four books on Islamic finance.

Following the negotiations, both sides emphasized the importance of effectively utilizing existing cooperation mechanisms, regular experience exchange, and consistent implementation of joint projects. The planned work is intended to strengthen Uzbekistan's institutional potential in the field of Islamic finance.

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