Uzbekistan Plans 1,000 Fintech Startups and Government-Backed Innovation Hub

Tashkent, Uzbekistan (UzDaily.com) — On 10 September, President Shavkat Mirziyoyev reviewed proposals for the development of the financial technology (fintech) sector.

The global fintech market continues to grow rapidly: its volume exceeded $300 billion in 2025, and it is projected to double to over US$600 billion by 2030. Uzbekistan is also seeing significant opportunities. While only 24 fintech companies operated in 2018, today there are 103. Domestic enterprises attracted over US$260 million in foreign investment this year, four times more than last year.

During an open dialogue with entrepreneurs, the President supported the development of 1,000 fintech startups, the implementation of open banking, and the creation of a five-year fintech strategy. Key plans and proposals were presented during the session.

To form the strategy, a comprehensive analysis of the legal framework, current industry state, infrastructure, and human capital is underway. With experts from Singapore, international experience is being studied to define national principles, institutional architecture, and interagency coordination mechanisms.

The main goal is to create a sustainable, inclusive, and competitive financial services ecosystem.

Modern financial market development relies on artificial intelligence and blockchain technologies. Experts estimate that their implementation could increase bank revenues by 20%, expand financial services by 30%, and reduce risks by 15%.

The President instructed authorities to expand banks’ technological capabilities and increase the share of digital services. Plans include organizing a Fintech Office at the Central Bank to develop and manage success criteria.

Additionally, plans were approved to create an innovation hub to accelerate startups, implement new ideas, and attract investments. These measures are expected to help position Uzbekistan as a regional fintech center.