A delegation from IT Park Uzbekistan and Enterprise Uzbekistan held direct talks with Hong Kong financial regulators. Uzbek state structures are looking for ways to adapt international regulatory standards and open access to Asian capital for local technology companies, bypassing usual regional platforms.
What happened
The Uzbek delegation visited Hong Kong for a detailed study of the operating model of one of the largest international financial centers. As reported by the official IT Park Uzbekistan channel, a series of working meetings took place with the leadership of the Hong Kong Monetary Authority (HKMA), which acts as the central bank, and the Financial Services and the Treasury Bureau (FSTB)—the agency determining the jurisdiction’s financial policy.
The agenda of the talks went beyond protocol introductions. The parties substantively discussed mechanisms for supporting innovation and building effective interaction between state institutions, supervisory authorities, and the private sector.
Specific elements of the digital financial infrastructure were the focus of attention. Representatives of the two countries exchanged experiences in developing fast payment systems and regulating the circulation of digital assets. A separate block discussed the launch and administration of regulatory sandboxes—special legal regimes allowing fintech startups to test new products without the risk of violating current legislation.
Country and market
Uzbekistan is consistently building infrastructure to retain local IT companies and attract foreign residents. IT Park Uzbekistan already functions as the main state hub, providing the technology business with significant tax incentives and basic legal support.
However, for a qualitative leap, the market needs Enterprise Uzbekistan—a special jurisdiction being created for international business. The main problem of local technology markets in Central Asia is that local civil legislation often lacks the flexibility to structure complex venture deals and protect the rights of foreign investors.
Hong Kong historically relies on the English common law system. It is this legal tradition that ensures the predictability of corporate governance, clear dispute resolution mechanisms, and transparency in the issuance of securities. Studying this experience is critically important for Enterprise Uzbekistan: to attract institutional capital, the jurisdiction must speak to investors in a legal language they understand.
Why it matters
For growing Uzbek fintech companies, the issue of scaling comes down to the availability of funding. The domestic venture capital market is limited, and bank lending is rarely suitable for early-stage technology startups.
Traditionally, companies from Central Asia seeking liquidity target either Western funds or regional platforms. Previously, Finteqstan wrote about how instruments are developing on the Kazakhstani exchanges KASE and AIX, which actively attract retail investors. However, for large funding rounds and full-fledged IPOs, the technology sector requires deeper pools of institutional liquidity.
Hong Kong has one of the most developed regulatory frameworks for digital finance in Asia. Understanding the requirements of local regulators is the first step toward synchronizing standards. If the Uzbek jurisdiction can implement rules of the game comparable to Hong Kong’s, it will radically lower the barrier to entry for Asian investment funds.
Direct contact with Asian regulators shows that Uzbekistan is building an alternative funding channel, which in the future will allow local companies to raise capital directly from Asia, creating competition for regional financial hubs.
What’s next
At the current stage, it is exclusively about studying experience and exchanging practices. It is premature to expect immediate announcements about the listing of Uzbek startups on the Hong Kong Stock Exchange.
The most likely immediate practical result of these meetings will be the adaptation of Hong Kong models within Uzbek regulatory sandboxes. This will enable the Central Bank of Uzbekistan and other relevant agencies to test complex financial instruments, including cross-border digital assets, in a controlled environment before their full-scale market launch.
The next point of contact will be the ICT Week Uzbekistan 2026 technology exhibition, to which the Uzbek side officially invited Hong Kong representatives. This event could become a platform for consolidating the agreements reached and presenting the first outlines of the updated legal framework of Enterprise Uzbekistan.