Uzbekistan’s plans to establish an international financial center in Tashkent appear to be gaining momentum, with officials increasingly looking at Kazakhstan’s experience as a potential model.
On June 21, Head of the Presidential Administration of Uzbekistan Saida Mirziyoyeva met with Kazakhstan’s President Kassym-Jomart Tokayev during her visit to Astana. The discussions focused on expanding cooperation in trade, investment, technology, and humanitarian initiatives, as well as ongoing economic and political reforms in both countries.
During the visit, Mirziyoyeva also held meetings with senior Kazakh officials, including Head of the Presidential Administration Roman Sklyar and State Counselor Erlan Karin. The parties discussed bilateral cooperation, coordination between presidential administrations, and joint projects in culture, youth policy, and high technology.
One of the key stops during Mirziyoyeva’s visit was the Astana International Financial Centre (AIFC), widely regarded as one of Central Asia’s most successful efforts to attract foreign investment and international financial institutions.According to Mirziyoyeva, the AIFC’s experience is particularly valuable for Uzbekistan as the country moves forward with plans to establish its own international financial center in Tashkent. “I am confident that the exchange of experience will contribute to increasing the investment attractiveness not only of our countries, but of Central Asia as a whole,” she noted following the visit.
Since its launch in 2018, the Astana International Financial Centre has become a major gateway for international capital entering Kazakhstan and the wider region.The center operates under a separate legal framework based on English common law, offers independent arbitration mechanisms, and has attracted thousands of companies from dozens of countries. It has also become a regional hub for fintech, venture capital, green finance, and capital market development.
For Uzbekistan, which is actively seeking to increase foreign direct investment and strengthen its startup ecosystem, the AIFC provides a practical example of how a specialized financial zone can help attract global businesses and investors.
The visit comes just months after President Shavkat Mirziyoyev signed a decree establishing the Tashkent International Financial Centre (TIFC).According to the decree, the new center will focus on attracting international investment, developing capital markets, supporting financial innovation, and creating favorable conditions for fintech companies and technology-driven businesses.
The initiative is part of Uzbekistan’s broader effort to position itself as a regional business and investment hub while accelerating the development of its digital economy.
The growing cooperation between Uzbekistan and Kazakhstan around financial infrastructure reflects a larger trend across Central Asia. As countries in the region compete to attract capital, talent, and technology companies, international financial centers are increasingly seen as strategic tools for economic modernization.
If implemented successfully, Tashkent’s financial center could become one of the most important platforms for startups, venture capital funds, fintech companies, and international investors looking to enter the Uzbek and Central Asian markets.
Rather than simply replicating Astana’s model, Uzbekistan now has an opportunity to build on regional experience and create a financial ecosystem tailored to its own rapidly growing economy.
