Uzbekistan, Hong Kong to Expand Investment Cooperation

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan and Hong Kong will expand investment cooperation and further develop ties in the financial and legal sectors, Uzbekistan’s Ministry of Investment, Industry and Trade said.

Uzbekistan’s Deputy Minister of Investment, Industry and Trade Ilzat Kasymov held a meeting with a Hong Kong delegation led by Paul Lam, Secretary for Justice of the Hong Kong Special Administrative Region.

The meeting focused in particular on the development of the Tashkent International Financial Centre. Uzbekistan is considering using Hong Kong’s experience and expertise in establishing international financial infrastructure.

The sides also discussed involving leading Hong Kong financial, investment and legal companies in the development of the financial centre.

An important part of the talks was the preparation of a Bilateral Investment Treaty (BIT) on the promotion and protection of investments, as well as a number of other agreements in the investment and financial sectors.

The implementation of these agreements is expected to provide additional guarantees for investors, create more favorable conditions for doing business and expand mutual investment between Uzbekistan and Hong Kong.

The Tashkent International Financial Centre is being established in Uzbekistan under a special legal regime. Its objectives include attracting domestic and foreign investment, developing capital markets and financial services, and integrating the national financial market with international capital markets.