Uzbek president pledges continued reforms, tax-free zone at Tashkent forum

Uzbekistan's President Shavkat Mirziyoyev pledged to continue economic reforms, including establishing an independent financial regulator and a tax-free financial center, to attract foreign investors.

​Uzbekistan's President Shavkat Mirziyoyev promised on ​Wednesday to continue economic ‌reforms in the ​fast-growing Central Asian country, including establishing an independent financial regulator.

"We are always open to investors interested ‌in cooperating with Uzbekistan and ready for an equal and mutually beneficial partnership," Mirziyoyev said in his opening speech at the annual Tashkent International Investment Forum. He announced plans ‌to open the Tashkent International Financial Center, a tax- and customs-free zone to ‌run on English common law.

"Profit tax, value-added tax, property tax, and customs duties will be set at zero percent. Free capital movement and the ability to make payments in any currency ⁠will ​be guaranteed unconditionally. A ⁠modern system for financial technologies, digital assets, and green finance will be created," he said. An independent ⁠financial regulator with the authority to adopt regulatory documents will also be established in ​the financial centre, the Uzbek leader said.

Central Asia’s most populous country with ⁠almost 40 million people, Uzbekistan registered 7.7% economic growth in 2025. The economy has been buoyed ⁠both ​by its young, growing population and high gold prices. Uzbekistan is a major gold producer. In May, a package of minority holdings in state ⁠companies was floated on the London Stock Exchange, its largest IPO since 2021.

Since taking office ⁠in 2016, Mirziyoyev ⁠has dismantled capital controls that stunted growth under his predecessor, Islam Karimov, whilst keeping politics under tight control.