Uzbekistan's President Shavkat Mirziyoyev announced the signing of an agreement on the privatization of one of Uzbekistan's largest banks, Asaka Bank, with the European Bank for Reconstruction and Development (EBRD) during the III Tashkent International Investment Forum.
Addressing the forum, the President highlighted the banking and financial sector as a priority area for expanding Uzbekistan's cooperation with foreign investors.
Shavkat Mirziyoyev mentioned that the processes of transformation and privatization of other major banks in Uzbekistan are actively underway with the International Finance Corporation and the Asian Development Bank. He emphasized that the country is revising requirements and approaches to capital market development to meet the growing demand for financial resources, as well as working on international financing instruments.
"We expect a several-fold increase in foreign investment inflows, improvement in corporate governance quality, and attraction of new leading banking and financial institutions," stated the President.
