The President Mirziyoyev signed the Additional Measures to Improve Investment Climate in Capital Markets Decree, which took effect on 22.12.2025.
The Decree has set the following goals until 2030:
- attracting 1 billion US dollars of investment in the stock market, including 5 trillion soums in corporate bonds through modern financial instruments;
- raising the ratio of prevented violations up to 85% as a result of introduction of mechanisms guaranteeing the security of investments of capital market participants.
It also stipulates that the special legal regime of Regulatory Sandbox introduced in the capital markets in line with September 2, 2023 Resolution shall be valid for an unlimited period.
The main rights granted as part of the Regulatory Sandbox are:
status of a sandbox participant by legal entities that are residents of Uzbekistan;
right to provide custody and nominal custody services for securities issued and owned foreign participants and legal entities (including investment funds);
in cases established by law, the right to provide issuers with the opportunity to issue unsecured corporate bonds in excess of their capital.
Reportedly, plans were also discussed to expand the use of instruments in the capital market, such as "dual listing", bonds in foreign currency, global depositary receipts and exchange-traded funds.
