PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of April 13, 2021 No. UP-6207

About measures for further market development of the capital

For the purpose of further market development of the capital, increase in issue of securities, and also expansion of participation of physical persons and legal entities in the stock market:

1. Determine the main directions of market development of the capital:

increase in competitiveness and bringing to 45 trillion sum until the end of 2023 capitalizations of the capital market, creation of the effective funding mechanism alternative to bank crediting;

increase in availability of the capital market to all categories of investors by means of active integration with the international financial markets, wide use of modern information and communication technologies and application of the advanced approaches which are successfully approved abroad;

bringing to 5 percent until the end of 2023 of part of the projects financed by issue of securities within republican and regional investing programs by means of ensuring harmonious functioning and development of all segments of the capital market;

creation of the necessary conditions for active investment financing directed to the development purposes in the stock market by implementation of front lines international the practician, elimination of excessive barriers and restrictions;

creation of the legislation providing integrity of regulation of the capital market and the prevention of systemic risks with implementation of the international criteria and experience;

development of system of providing the capital market with the personnel meeting the modern requirements, creation of attractive conditions for involvement of perspective, including foreign specialists;

preparation and retraining of specialists for the capital market, systematic establishing increase in their qualification;

scope of 40 thousand people until the end of 2023 within programs of support of increase in knowledge, skills and financial literacy of minority investors, other members of the capital market and general population.

2. Approve:

The development program of the capital market in 2021 - 2023 (further - the Program) according to appendix No. 1;

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