New international financial center to open in Tashkent under English common law

According to official projections, the center is expected to draw an additional $20–25 billion into the national economy by 2030. It is estimated that the TIFC will contribute up to 1% to the annual GDP growth of Uzbekistan. Beyond capital, the project aims to create 15,000 high-skilled jobs and provide advanced training for approximately 10,000 specialists in the financial sector.

A defining feature of the TIFC is the introduction of a special legal regime. The center will apply the common law of England and Wales to the extent that it does not conflict with the specific law governing the center. Furthermore, the governing bodies of the TIFC will have the authority to adopt their own normative-legal acts.

To ensure transparency and international standards in dispute resolution, two new institutions will be launched:

• The Tashkent international commercial court
• The international arbitration center

The center aims to provide a seamless environment for international business. Residents of the TIFC will benefit from a range of privileges, including:

• Unrestricted capital movement and repatriation of funds.
• Freedom to conduct foreign currency operations.
• Support for modern payment methods and digital assets.
• A preferential tax regime and simplified visa procedures.

The primary activities of the center will encompass banking, insurance, securities, payment systems, and financial technology (fintech). By integrating these sectors under one regulatory roof, Uzbekistan seeks to position itself as a key financial gateway in Central Asia.