RB ASIA has received investment intermediary license in Uzbekistan
Updated: Dec 15, 2020
The Capital Market Development Agency issued RB ASIA an investment intermediary license to carry out professional activities in the securities market of Uzbekistan.
The obtained license of an investment intermediary will allow RB ASIA to provide services on attracting foreign investment to Uzbekistan, venture financing of startups, investments in the most promising investment projects and operating businesses in the Uzbek market.
“The reforms adopted by the government in the development of the local capital market are fully justified, since we see an increase in the confidence of the international community. I am confident that the joint efforts of the Agency and professional market participants will give an additional impetus to the maintenance and development of the country's investment sphere, ”said Director of the Agency Atabek Nazirov.
“We highly appreciate and respect the actions taken by companies aimed at obtaining the necessary permits to carry out legal professional activities in the capital market of Uzbekistan. At the same time, it should be noted that the financial market of Uzbekistan is in full readiness to establish cooperation with international companies, as evidenced by the successful examples of the implementation of professional activities in the capital market of Uzbekistan by companies such as RB Asia and others," he added.
With the investment intermediary license RB ASIA can to carry out services in the capital markets, such as brokerage services to local clients and foreign investors, professional activities in the securities market as an investment intermediary and investment asset manager, advise joint stock companies and government organizations preparing for privatization or preparing for an initial public offering.
“Despite the relatively small capitalization of the stock market of the Republic of Uzbekistan at the moment, it has a huge development potential, which is being developed by the measures taken by the Agency, including by improving legislation and removing barriers, as well as active work with market participants. We also see great potential of our participation in attracting international investors to the privatization processes in Uzbekistan”, said Doniyor Islamov, CEO of RB ASIA.
Recall that on October 27, 2020, a decree of the President of the Republic of Uzbekistan "On measures to accelerate the reform of enterprises with state participation and the privatization of state assets" was adopted, which makes it possible to introduce advanced technologies, increase labor productivity, create new jobs with the active involvement of private capital, create more broad opportunities for private capital to participate in the reform process, reduce state participation in the economy and further improve the competitive environment.