Why is this important
Partnering with a major global management company can raise corporate governance standards, increase transparency, attract foreign investment, and enhance investor confidence in Uzbekistan’s stock markets.
What happened
- A joint investment fund has been established with Franklin Templeton; work has begun on the transformation of state-owned enterprises and their entry into global markets.
- An agreement was reached on expert support in developing the potential of the Tashkent Stock Exchange, including strengthening the independence and transparency of the regulator, creating mechanisms to protect investors’ rights, attracting international custodians, and implementing digital platforms.
- Programs to improve the efficiency of state-owned enterprises, “green economy” standards, and the IPO of state funds were also discussed.
- In October, “Investor Day” was announced in Tashkent.
Context
Franklin Templeton already manages the Uzbekistan National Investment Fund (UzNIF), which includes shares in 18 strategic state-owned enterprises. Uzbekistan’s regulation of the capital market through NAPP is gaining strength, including licensing of trust management of investment assets.
