Resolution of the President of the Republic of Uzbekistan on the development of the capital market
On April 13 this year, the President of the Republic of Uzbekistan signed a decree "On measures for the further development of the capital market." The main purpose of the document is to determine the main directions for the development of the capital market, increase the issue of securities, expand the participation of individuals and legal entities in the stock market.
According to the document, it is determined:
- by 2023, increase competitiveness and bring the capitalization of the capital market to 45 trillion sums. And also create an effective system of financing in place of bank lending.
- Make the capital market accessible to the population of Uzbekistan.
- Projects financed by issuing securities under the republican and regional investment programs to bring up to 5 percent by the end of 2023.
- Create a legal framework for the full regulation of the capital market and prevention of systemic risks with the introduction of international criteria and experience.
- Create a program for the training and retraining of specialists for the capital market.
- To train 40 thousand people by the end of 2023 as part of programs to increase know-hows, skills and financial literacy of minority investors, other participants in the capital market and the general population.