Ministry of Economy and Finance of the Republic of Uzbekistan

The meeting was attended by David Jennison, Co-founder and Deputy Chairman of the Board of Directors of STJ Advisors; Stefan Scholz, Managing Partner of ScholzvonGleich; Khurshed Mustafayev, Deputy Minister of Economy and Finance; as well as other responsible representatives.
 

For reference: STJ Advisors is an independent advisory firm operating in the areas of international capital markets, IPOs and strategic financial advisory. The company provides advisory services to corporate clients and investors on accessing capital markets, placement processes and investment positioning.
 

ScholzvonGleich is an independent investment bank specializing in Central Asian markets. It provides financial advisory services to businesses, shareholders, governments and investors. The company operates in such areas as strategic financing, capital raising and investment transaction advisory.
 

During the meeting, the parties discussed further acceleration of privatization processes in Uzbekistan, transformation of state-owned enterprises, their effective management based on market principles, and their gradual access to capital markets.
 

The meeting also included an exchange of views on the work being carried out under the Uzbekistan National Investment Fund — UzNIF, as well as on future priority tasks.
 

In particular, special attention was paid to expanding dialogue with international investors, developing state assets with the participation of private capital, and introducing advanced corporate governance practices.
 

It was noted that the large-scale economic reforms being implemented under the leadership of President of the Republic of Uzbekistan Shavkat Mirziyoyev, along with measures aimed at ensuring macroeconomic stability, improving the state asset management system and increasing the transparency of privatization processes, are significantly strengthening the interest of international investors.
 

The stable macroeconomic environment established in the country, consistent economic growth trends, favorable conditions created for investors, and reforms aimed at developing the capital market are positioning Uzbekistan as a promising partner for international financial institutions and major capital market participants.
 

At the conclusion of the meeting, the parties agreed to further develop mutual cooperation and expand the exchange of views in the above-mentioned areas.

PR and Communications Department

Ministry of Economy and Finance