“Uzbektelecom” JSC has reached a new milestone in the international financial market — “Fitch Ratings” has assigned the Company a “BB” rating with a Stable Outlook.
Participation of UzAssets JSC Representatives in the “Uzbekistan and International Capital Markets 2025” Conference and Intensive Program
On November 12–13, 2025, Tashkent hosted the “Uzbekistan and International Capital Markets 2025” Conference and Intensive Program, organized by a consortium of leading international consulting firms — FTI Consulting, Rothschild & Co, Citi, PwC, White & Case, IB Translations, Fanda, Alef Quad, and New Stage Advisory — with the support of UzAssets JSC, the London Stock Exchange, and the Embassy of the United Kingdom in Uzbekistan.
The event brought together experts, international consultants, and representatives of Uzbekistan’s state-owned companies. The discussions primarily focused on the development of the capital market, preparing companies for IPOs, and introducing advanced corporate governance standards.
Within the framework of the conference, the Chairman of the Management Board of UzAssets JSC, B. Abdinazarov, delivered a welcome speech at the opening ceremony and took part in a panel session dedicated to preparing companies for IPOs.
In his remarks, he emphasized that under the leadership of the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, the country is entering a new stage of economic transformation based on openness, transparency, and active partnerships with international investors.
He noted that ongoing reforms in the corporate sector and the development of the stock market provide a strong foundation for attracting private capital, increasing the efficiency of state assets, and further enhancing the investment attractiveness of Uzbekistan.
Special attention was paid to the current agenda on IPOs, SPOs, and privatization, highlighting that these processes play a crucial role not only in deepening the capital market but also in improving transparency and operational efficiency of major state-owned enterprises.
It was also noted that in June 2025, Fitch upgraded Uzbekistan’s sovereign rating from BB- to BB (Positive), while S&P and Moody’s likewise improved their outlooks for the country’s rating.
At the corporate level, 16 major state-owned companies have already received international credit ratings, and 7 companies have obtained ESG ratings, supporting sustainable development in corporate governance.
Furthermore, all major state-owned enterprises are preparing IFRS-based financial statements, audited by leading international audit firms.
The conference addressed key reforms in capital market development, mechanisms for cooperating with international partners, implementation of corporate governance and reporting standards, and the role of ESG and sustainability principles in enhancing companies’ investment appeal.
In addition to panel discussions, participants attended practical training sessions and masterclasses on IPO processes, preparation of financial statements, and capital raising. The event concluded with experience exchange and discussions on prospective investment projects.