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 give local tech companies access to Asian capital, bypassing usual regional platforms.
What happened
The Uzbek delegation visited Hong Kong to study 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 defining the jurisdiction’s financial policy.
The agenda went beyond formal introductions. The parties discussed mechanisms to support innovation and build effective interaction between state institutions, supervisory bodies, and the private sector.
Specific elements of the digital financial infrastructure took center stage. Representatives of the two countries exchanged experience in developing fast payment systems and regulating digital assets. A separate block covered the launch and administration of regulatory sandboxes—special legal regimes allowing fintech startups to test new products without risking 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 tech businesses with significant tax breaks 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 with local tech markets in Central Asia is that local civil law often lacks the flexibility to structure complex venture deals and protect foreign investors’ rights.
Hong Kong historically relies on the English common law system. This legal tradition ensures corporate governance predictability, clear dispute resolution mechanisms, and transparency in issuing securities. Studying this experience is critical 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, scaling hinges on funding availability. The domestic venture capital market is limited, and bank lending rarely suits early-stage tech startups.
Traditionally, Central Asian companies seeking liquidity target either Western funds or regional platforms. Finteqstan previously covered how instruments are developing on the Kazakh exchanges KASE and AIX, which actively attract retail investors. However, for large funding rounds and full-fledged IPOs, the tech sector needs deeper pools of institutional liquidity.
Hong Kong has one of the most developed regulatory frameworks for digital finance in Asia. Understanding local regulators’ requirements is the first step toward synchronizing standards. If the Uzbek jurisdiction can implement rules comparable to Hong Kong’s, it will radically lower the entry barrier for Asian investment funds.
Direct contact with Asian regulators shows that Uzbekistan is building an alternative funding channel that will eventually allow local companies to raise capital directly from Asia, creating competition for regional financial hubs.
What’s next
At this stage, the focus is solely on studying experience and exchanging practices. Expecting immediate announcements about Uzbek startups listing on the Hong Kong Stock Exchange is premature.
The most immediate practical result of these meetings will likely be adapting Hong Kong models within Uzbek regulatory sandboxes. This will allow the Central Bank of Uzbekistan and other relevant agencies to test complex financial instruments, including cross-border digital assets, in a controlled environment before a full-scale market launch.
The next point of contact will be the ICT Week Uzbekistan 2026 technology exhibition, where the Uzbek side officially invited Hong Kong representatives. This event could become a platform for solidifying the agreements reached and presenting the first outlines of Enterprise Uzbekistan’s updated legal framework.