Key facts
- Uzbekistan plans to establish the Tashkent International Financial Center as a tax- and customs-free zone.
- The center will operate under English common law principles.
- Key taxes including profit tax, VAT, property tax, and customs duties will be set at zero percent.
- Free capital movement and unconditional payment guarantees in any currency are promised.
- An independent financial regulator with rule-making authority will be created for the center.
- Uzbekistan's economy grew 7.7% in 2025, buoyed by a young population and high gold prices.
Uzbekistan's President Shavkat Mirziyoyev has pledged to continue economic reforms in the Central Asian nation, announcing the creation of the Tashkent International Financial Center. This new zone will operate under English common law and offer significant tax and customs exemptions, including a zero percent rate on profits, value-added tax, property tax, and customs duties. The center will also guarantee free capital movement and payments in any currency, aiming to foster financial technologies, digital assets, and green finance. Furthermore, an independent financial regulator with the authority to issue regulatory documents will be established within the center.
Uzbekistan, the most populous country in Central Asia with nearly 40 million people, experienced 7.7% economic growth in 2025. This growth has been supported by its young and expanding population, as well as high gold prices, given Uzbekistan's status as a major gold producer. In May, the country saw its largest IPO since 2021 with the flotation of minority holdings in state companies on the London Stock Exchange.
Since assuming office in 2016, President Mirziyoyev has worked to dismantle the capital controls that previously hindered economic expansion under his predecessor, Islam Karimov, while maintaining tight political control.