Silk Road Finance & Technology Forum taking place in Tashkent

Silk Road Finance & Technology Forum taking place in Tashkent, the Information Service and Communications Department of the Ministry of Economy and Finance reports.

The international forum, being held in Tashkent on August 24–26, is organized by the Central Bank of the Republic of Uzbekistan in cooperation with the Global Finance & Technology Network (GFTN), established with the participation of the Monetary Authority of Singapore. The forum aims to bring together discussions on finance, innovation and public policy, facilitate the exchange of international experience, and create new opportunities for cooperation in developing financial technologies across Central Asia.

The opening session focused on Uzbekistan’s priorities in developing financial technologies, attracting private capital and introducing new financial instruments.

In particular, it was noted that the development of financial technologies is an important factor in increasing the competitiveness of the national economy, expanding access to financial services and supporting sustainable economic growth. Modern FinTech solutions are creating new opportunities for more efficient capital allocation, faster movement of financial resources and greater efficiency across economic processes.

In this regard, the importance of first establishing a stable and predictable macroeconomic environment for the development of financial technologies was emphasized.

It was noted that as a result of structural reforms carried out in Uzbekistan over the past decade under the leadership of President Shavkat Mirziyoyev, the country’s economy has been growing at an average annual rate of 6–7 percent, while GDP has nearly tripled from $60 billion to $180 billion. GDP per capita has increased from $1,900 to $4,600, while inflation has declined from double-digit to single-digit levels.

It was also emphasized that economic stability is strengthening Uzbekistan’s investment attractiveness. Key priorities going forward include achieving an investment-grade sovereign credit rating, completing the country’s accession process to the World Trade Organization, reducing the state’s presence in the economy, and continuing market-oriented reforms.

Further discussions at the forum will focus particularly on developing a modern, competitive and inclusive financial system in Uzbekistan.

Key priorities include reducing barriers to access to financial services through technology, promoting innovation, strengthening the integration of the financial system with the global economy, and building trust.

Uzbekistan’s significant market potential for the FinTech ecosystem also provides a strong foundation for developing these areas. With a population of more than 38 million, a large share of the population is under the age of 30, while the level of digital technology adoption has reached nearly 70 percent.

As part of the sector’s development through 2030, the country has set targets to attract $1 billion in foreign investment, train more than 5,000 specialists, establish more than 200 licensed market participants, and graduate 100 startups from incubation programmes.

The forum’s main agenda also covers such strategic areas as Open Banking, digital assets and stablecoins, cross-border payments, Islamic finance, innovation and investment. The programme also includes sessions dedicated to artificial intelligence, quantum technologies, cyber resilience, digital asset regulation and startup development.

The forum’s concept is aligned with the idea of “Al-Jabr”, meaning “bringing together the parts”. The concept is linked to the legacy of the great scholar Muhammad al-Khwarizmi, who originated from the Khorezm region, and today reflects the forum’s vision of bringing finance, technology, capital and international cooperation together within a single ecosystem.