Tashkent will host a new international financial center with 0% profit, VAT, property and customs taxes, plus guaranteed free capital movement and payments in any currency, President Shavkat Mirziyoyev said.
The hub is meant to draw foreign investors by operating under English common law and by creating an independent regulator empowered to issue its own rules.
Uzbekistan is pitching the plan from a position of economic strength: the nearly 40 million-strong country grew 7.7% in 2025, helped by a young population and high gold prices.
The announcement builds on Mirziyoyev's market-opening drive since 2016, which removed capital controls, and follows May's London listing of minority stakes in state companies—the country's biggest IPO since 2021.
Can Uzbekistan’s ambitious 50-year tax holiday for investors survive future political shifts and economic pressures?
How will Uzbekistan's pivot to Western investment impact its long-standing economic partnerships with China and its neighbors?
As Uzbekistan adopts English law for its financial hub, can it build the necessary legal culture to make it succeed?
Tashkent International Financial Center: Uzbekistan’s Ambitious Push for $50 Billion in Foreign Investment and Regional Leadership
Overview
Uzbekistan is undergoing a major economic transformation, highlighted by the launch of the Tashkent International Financial Center (TIFC). Announced by President Shavkat Mirziyoyev after a period of strong growth and reform, the TIFC aims to position Uzbekistan as a leading regional financial hub. It offers attractive incentives like 50-year tax exemptions and a special legal regime to draw foreign investment and shift the economy from commodity exports to services. New laws and protections for venture capital and private equity are being developed, creating a secure environment for diverse financial activities and supporting the country’s broader modernization goals.