BAKU, Azerbaijan, August 18. Uzbekistan aims to
attract at least $1 billion in foreign capital annually through
IPOs as it expands domestic companies’ access to international
capital markets.


This was announced in a statement published by the Press
Secretary of the President of Uzbekistan following an open dialogue
attended by the President with representatives of the country’s
business community in the Khorezm Region.


According to the information, for the first time this year, a
30% stake in the National Investment Fund, which holds assets in 13
strategic companies, was listed on the Tashkent and London stock
exchanges. The experience has also opened a path for private
companies to access international capital markets.


Under the new initiative, Uzbekistan will work with leading
investment banks to prepare local companies for capital-market
listings. Fifty companies with annual revenues exceeding 1 trillion
soums (about $84.2 million) will be selected each year for the
acceleration program.


The government will cover 50% of the costs associated with
preparing companies for IPOs and bringing their financial reporting
into line with international standards.


The move comes as Uzbekistan seeks to deepen its capital market
and provide large domestic businesses with alternatives to
traditional bank financing.


In the course of the meeting, Mirziyoyev also highlighted the
importance of developing skilled workers alongside investment in
advanced technologies. He noted that Uzbekistan is implementing $50
billion worth of high-tech investment projects each year, with
training and workforce development required to be included in such
projects.







“The effectiveness of every project depends not only on
technology, but also on qualified personnel who are able to use
it,” Mirziyoyev said.


A vocational training model has already been launched in Urgench
based on German and Chinese experience, preparing students for 10
professions including green energy, construction, nursing, agronomy
and electrical engineering.


The model is expected to be expanded across Uzbekistan.


Entrepreneurs establishing technical colleges or taking over
state technical colleges and training specialists according to
international standards will also be allowed to deduct related
expenses from their taxable income.


Through the program, Uzbekistan aims to train 1 million young
people in modern professions and help them secure higher-paying
jobs.


The measures link two of the government’s priorities — expanding
access to international investment and developing the workforce
needed to support increasingly technology-intensive projects.