00:00For much of this week, international investors have been coming to Tashkent to hear what opportunities Uzbekistan has to offer.
00:06But at this meeting, the conversation moved into the opposite direction.
00:11President Sharpeyat Murziaev met representatives of major international companies, banks, financial institutions and development lenders,
00:20inviting them to explain what still needs to change to make investing in Uzbekistan easier.
00:25I was very privileged to attend a meeting with the president this morning.
00:28And his closing comment was, we're not going back.
00:31But we've now had many years of evidence.
00:34You know, all that progress is moving in one direction.
00:37And the reform agenda and the discipline of the regulatory changes are all moving in the same direction.
00:42According to the president, proposals put forward through the foreign investors' consuls have already contributed to changes in tax legislation,
00:51financial regulation and reporting requirements for foreign companies.
00:55The consul itself has grown from 54 to 85 member companies and now brings together investors active across 23 sectors
01:04of the economy.
01:05Ahead of this year's meeting, foreign investors submitted 120 new proposals covering areas including banking, energy, corporate governance, artificial intelligence
01:15and the digital economy.
01:16Uzbek authorities say the recommendations will now be incorporated into a formal roadmap with progress monitored by the government.
01:23One thing is, most of the complaints which are coming, that this is often changing legislation.
01:31The second extremely important issue, this is the rule of law.
01:35This is also what was mentioned by the president Mirzoev about the new Tashkent International Financial Center.
01:42And also having a completely independent judiciary, which would then ensure that investors feel protected, being protected by the law.
01:56New agreements were also signed between the European Bank for Reconstruction and Development and the Uzbek government.
02:02During a meeting between President Shavkat Mirzoev and EBRD's President Odell Rino Basso,
02:09the agreements covered sustainable transport, railway digitalization, entrepreneurship, housing finance and support for the country's startup ecosystem.
02:18Meanwhile, the third day of the Tashkent International Invest Forum featured discussions on privatization, capital market reforms,
02:25artificial intelligence, digital governance and innovation as key drivers of future investment and economic growth.
02:32There is going to be a load of opportunity for nations in the services and applications space.
02:38I think, again, some of the core areas which nations will be looking at will be healthcare, education, financial services,
02:46all the kind of traditional bits of where AI can actually improve those quite dramatically.
02:52As Uzbekistan seeks to attract more international capital, officials argue that investment is no longer only about financing new projects.
03:00It's also about giving investors a greater role in shaping the business environment they operate in.
03:06Delbar Primva, Euronews, Tashkent.
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