Uzbekistan's parliament has approved a bill to create the Tashkent International Financial Center (TIFC), offering tax incentives, currency freedom, and a separate judicial system for investors.

The document defines the legal status and institutional structure of the center, including an administration, financial regulator, and international commercial court, as well as the special legal regime to be applied on its territory.

Special attention is given to creating conditions for international investors, with mechanisms to ensure legal stability and independent judicial protection of their interests.

The initiative was developed based on the experience of leading global financial hubs: Dubai (DIFC), Astana (AIFC), and Singapore.

Participants and their employees will be granted privileges including the right to settle in foreign currency, hire foreign specialists, obtain special visas for up to five years, as well as tax and customs benefits.

The law's adoption will require constitutional amendments, specifically to allow special legal regimes in certain territories while maintaining the country's unified legal space, and to establish specialized courts with special procedural rules.

Deputies proposed strengthening investor rights protection and financial security, and adopted the bill in the first reading.

According to estimates, by 2030 the center could attract $20-25 billion in investments and create up to 15,000 high-skilled jobs.

Source: podrobno.uz