【Ferro-alloys.com】: Uzbekistan is carrying out financial reforms and planning to make goods of technological minerals with support of the International Monetary Fund and the World Bank, Uzbek President Shavkat Mirziyoyev said.

"A short time ago, we made a comprehensive evaluation of Uzbekistan's financial sector together with the International Monetary Fund and the World Bank. They fully backed our reforms in banking, finance, insurance and the capital market," Mirziyoyev said.

A council for financial stability will be established in Uzbekistan to bring these sectors to the next developmental stage, and the Central Bank will launch cybersecurity and financial technology platforms, he said. "We have started major reforms in the insurance system, as well. The National Reinsurance Company and the Global Digital Reinsurance Platform were set up," Mirziyoyev said.

Ventures, alternative financial instruments for startups, have been given a boost, he said. "For instance, the value of two national startup companies topped $1 billion last year for the first time. We will definitely increase the number of such companies," Mirziyoyev said. A bill on alternative investment funds has been drafted to this end, he said.

Speaking of the growing demand for technological minerals, Mirziyoyev said that large deposits of tungsten, molybdenum, magnesium, lithium, graphite, vanadium, titanium and other minerals had been found in Uzbekistan. The potential of national mineral resources is estimated at $3 trillion, he said.

"We have everything we need to turn the region into a hub for manufacturing goods with high added value from minerals," Mirziyoyev said. Metals of the Future techno-parks are being created in the Tashkent and Samarkand regions, he said.

"Allow me to propose returning the rent tax to investors for over ten years in case of a full-cycle enterprise, from geological exploration to finished products," Mirziyoyev said.

More than 3,000 participants from over 100 states are taking part in the Tashkent International Investment Forum. These include Bulgarian President Rumen Radev, Slovak Prime Minister Robert Fico, the prime ministers of Azerbaijan, Kazakhstan, Kyrgyzstan and Tajikistan, Russian Deputy Prime Minister Alexander Novak, BRICS New Development Bank President Dilma Roussef, and OSCE Chairperson-in-Office, Finnish Foreign Minister Elina Valtonen.

• [Editor:Alakay]