Uzbekistan and JP Morgan Discuss Capital Market Development

Tashkent, Uzbekistan (UzDaily.com) — Deputy Prime Minister of the Republic of Uzbekistan and Minister of Economy and Finance Jamshid Kuchkarov held talks with a delegation from the American financial conglomerate JP Morgan. The foreign side was represented by Maria Glukhovsky, Managing Director and Global Head of Public Sector at the bank, and Timur Kunanbaev, Senior Managing Director and Head of Investment Banking for the CIS region.

From the Uzbek side, Jasur Karshibaev, Advisor to the Minister of Economy and Finance, took part in the discussions. The meeting, held on 18 June 2026, was dedicated to expanding the republic's interaction with international financial markets.

During the negotiations, the parties conducted a detailed exchange of views regarding the progress of ongoing economic reforms in Uzbekistan.

The officials paid special attention to the processes of privatization and systemic transformation of banks and enterprises with state participation. The stated goal of this work is to transform them into transparent, competitive, and efficient market entities operating strictly on market principles, including through the attraction of large strategic investors.

The second key vector of the discussion was the development of the national capital market. The meeting participants discussed mechanisms for increasing its liquidity and investment attractiveness, as well as the integration of modern financial instruments.

In this context, the partners touched upon issues regarding the improvement of Uzbekistan's sovereign credit ratings, which is expected to help strengthen confidence on the part of the global investment community.

Following the dialogue, the sides agreed to maintain a regular exchange of views and continue mutually beneficial cooperation in all designated areas.