Uzbekistan to Launch Tax-Free Financial Hub Under English Law

The Tashkent International Financial Center represents a shift toward liberalizing the country's fiscal environment. Beyond the tax exemptions, the hub will guarantee free capital movement and allow transactions in any currency. To oversee this, the government plans to establish an independent regulator with the specific power to draft its own legal framework, signaling a departure from traditional state oversight.

This initiative follows a period of robust economic performance for the country of nearly 40 million people, which recorded 7.7% growth in 2025. Bolstered by high gold prices and a young labor force, the government has increasingly looked to international markets, including a major state company IPO on the London Stock Exchange earlier this year. Since succeeding Islam Karimov in 2016, Mirziyoyev has consistently prioritized the removal of capital controls to fuel this growth, even as he maintains rigid control over the domestic political sphere.