BAKU, Azerbaijan, Dec. 21
By Klavdiya Romakayeva - Trend:
The UK has approved technical assistance to initiate a second phase of the study of the concept of the Tashkent International Financial Center (TIFC), Trend reports referring to the Capital Markets Development Agency (CMDA).
The mentioned issues was discussed by the British Ambassador to Uzbekistan and leadership of the CMDA, the administration of Tashkent city, the Ministry of Investment and Foreign Trade, the Ministry of Justice, the Ministry of Foreign Affairs and the Embassy of Uzbekistan in England during an online conference.
According to the information, the concept of the project will be prepared by an inter-agency working group with the participation of TheCityUK, a UK-based organization of leading financial and legal services companies.
A preliminary feasibility study for this project, prepared with the support of the British Embassy in Tashkent, was completed and made available for review this summer.
The essence of the project is to determine the optimal model for the formation of a unique financial and legal ecosystem, as well as the necessary infrastructure for its full functioning.
“International rules and standards used in many financial centers around the world, for example, New York, London, Hong Kong, Singapore, Dubai, as well as the Astana city center are based on common-law system in England,” CMDA said.
It was noted that the advantages of this right are flexibility and ease of use, as well as widespread use by the world investment community.
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