Saida Mirziyoyeva views successful UzNIF debut as a testament to economic reforms

Uzbekistan has positioned itself as an increasingly open and dependable partner for international investors, according to comments by Saida Mirziyoyeva, Head of the Presidential Administration of Uzbekistan. Her remarks followed the debut of the Uzbekistan National Investment Fund (UzNIF) on public equity markets.

Photo: Telegram / Saida Mirziyoyeva

For the first time in the country’s economic history, domestic state-backed assets have been introduced to global public trading. UzNIF, in collaboration with the global asset management firm Franklin Templeton, launched its initial public offering (IPO) simultaneously on both the London Stock Exchange and the Tashkent Stock Exchange.

The structural and sustained economic reforms implemented over recent years have expanded the country's economy threefold. These initiatives have also improved the institutional efficiency of government bodies and strengthened legal protections for foreign businesses, making the domestic market far more accessible to global capital.

The active participation of premier international investment institutions, such as BlackRock, Franklin Resources, and Redwheel, in the IPO process serves as strong confirmation that the international community has confidence in Uzbekistan’s economic trajectory, national potential, and long-term future.

The dual-exchange listing achieved immediate commercial success, with investor demand outpacing the initial target volume more than fourfold. Total applications from interested asset managers and institutional buyers approached $3 billion, highlighting the considerable scale of international interest in the newly listed fund.