The capital market development strategy for 2021-2025 was developed a year ago, but has not yet been approved. Because there are still not enough resources and opportunities for the development of the system.
On March 16, the Senate and the Capital Markets Development Agency held an international conference in Tashkent on the factors hindering the development of the financial market.
Speaking at the event, Yes Invest spokesman Sandjar Ikramov said that expanding the powers of the Agency for the Development of Capital Markets will be an important step for the future of the financial market.
He said that “if an Uzbek investor makes a deposit through Click, 2.5% of his funds will be deducted from him.” That’s 2.5 percent of his investment and 1.5 percent through Payme. Even regular bank transfers (due to interest) lose money. Assuming the average return on the stock market is 20 percent, ordinary people lose 3-4 percent a year. ”
According to the first deputy chairman of the Senate Sodik Safayev, the level of development of the capital market in Uzbekistan is at an initial stage.
As of January 1, 2021, 599 joint stock companies of shares were issued with a total par value of RUB 149.5 trillion. Sumov. The Ministry of Finance paid out 3.2 trillion. Soums of the principal debt and 547.1 billion Soums of interest on government securities in 2019-2020, increasing the volume of their placement by almost 10 times.
Otabek Nazirov, director of the Capital Markets Development Agency, said at the event that the volume of trade in the capital market in 2020 amounted to 578 billion soums, which is 32% more than in 2019.
For information, the capitalization of the Uzbek capital market is 1% of GDP. In developing countries this figure is 30-60%, and in developed countries – 100% or more.
In 2019, a draft 5-year capital market development strategy was announced, in connection with which an international conference was organized in Tashkent. But the strategy has not yet been approved.
Two years ago, a bill was also drafted giving the LLC the right to issue bonds. Not yet approved.
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