An experimental platform for trading shares of foreign companies will be created in Uzbekistan. This was announced on February 21 at the plenary session of the Senate of the Oliy Majlis by the First Deputy Director of the National Agency for Advanced Projects (NAPP). Vyacheslav Pak.
According to him, in 2024 on Toshkent Stock Exchange there was a significant increase in trading, reaching 18.5 trillion soums, which was an all-time high. The country has also created legal conditions for the release of green bonds, and their first issue has already been registered on 50 billion soums. In addition, data on trading on the stock exchange became available on the platform BloombergA single corporate information portal was integrated with the exchange.
Currently, NAPPA is developing a draft law together with international experts "About the capital Market"which has already been submitted to the government for consideration. Work is also underway on a new version of the law "About Joint-Stock Companies"which is planned to be submitted to the Cabinet of Ministers.
Trading in shares of foreign companies
Vyacheslav Pak noted that Uzbek citizens are showing interest in the acquisition of shares of foreign companiesHowever, the law prohibits the purchase of such securities.
"We plan to create a Toshkent stock exchange an experimental site for trading shares of foreign companies. For example, our citizens will be able to legally buy shares of leading fintech companies, Tesla, Google and others. This will help increase the attractiveness of the securities market and involve the population in investment activities, " he said.
NAPPA is also considering the possibility of introducing experimental mode for release foreign currency bonds. Pak noted that many Uzbek citizens are not ready to take on currency risks and prefer to keep their funds in foreign currency. The new tool will allow you to use free savings of the population for the development of the economy.
Earlier it was reported that Uzbekistan it will place three issues of sovereign Eurobonds by the amount of $1.5 billion.
