UzNIF Tashkent Investor Day 2025

The National Investment Fund of the Republic of Uzbekistan (UzNIF), managed by Franklin Templeton, hosted the Tashkent Investor Day 2025, bringing together over 200 participants from 67 investment companies, including global asset managers overseeing more than USD 1 trillion in assets.

The three-day forum highlighted Uzbekistan’s macroeconomic progress, privatization agenda, and capital market opportunities, with participation from senior government officials, leading international financial institutions, and executives of major state-owned enterprises.

Keynote speakers included H.E. Mr. Jamshid Kuchkarov, Deputy Prime Minister and Minister of Economy and Finance, and H.E. Mr. Timur Ishmetov, Chairman of the Central Bank of Uzbekistan. Speakers reaffirmed Uzbekistan’s goals to achieve a BBB investment-grade rating by 2030 and complete the privatization of 29 major state enterprises by 2028, supported by reforms in governance, IFRS adoption, and investor transparency.

Panel discussions, featuring representatives from the World Bank, EBRD, IFC, IMF, and major Uzbek enterprises such as Uzmetkombinat, UzHydroenergo, SQB, and Xalq Bank, explored sectoral transformation in energy, banking, and infrastructure. Investors also joined site visits to UzNIF portfolio companies, including Uzbekistan Airways and UzHydroenergo, for a first-hand look at the country’s industrial modernization.

Throughout the event, Uzbekistan’s leadership emphasized the success of ongoing macroeconomic and structural reforms, which have led to Fitch upgrading the country’s sovereign rating to BB with a positive outlook, signaling strengthening investor confidence.

Finasia Capital, as part of the SSF Consortium (together with STJ Advisors and ScholzVonGleich), participated in the Investor Day as one of the advisors supporting the UzNIF IPO process. The team engaged with global investors during one-on-one and roundtable meetings, presenting the consortium’s approach to IPO preparation, valuation, and investor engagement strategy for UzNIF and its portfolio companies.

Finasia Capital’s participation reinforced its ongoing role in advancing Uzbekistan’s capital market development, supporting the government’s privatization and investment agenda, and connecting local issuers with international institutional investors.