Uzbekistan adopts English common law for new financial hub, courting City of London

Uzbekistan is moving forward with its Tashkent International Financial Centre, established by a March presidential decree, by instituting a distinct legal framework that applies English common-law principles to commercial activity within the zone, together with an independent international commercial court and arbitration system. The government aims to link the centre with the City of London, hoping British legal and financial expertise will boost foreign investment and private-capital inflows.

President Shavkat Mirziyoyev recently approved organisational steps for the centre’s launch, and the National Investment Fund, managed by Franklin Templeton, became the first Uzbek fund to list in London. At a Central Asia-UK think-tank forum, Javlon Vakhabov and other experts stressed the importance of legal certainty, anti-money-laundering standards, and mechanisms to turn political interest into viable projects, especially in critical minerals, agriculture and technology.

British partners such as the Critical Minerals Association UK and Chatham House discussed potential collaborations in research, processing and financing. Analysts warned that political agreements alone may not translate into investment without a robust private-sector model.