What did Professor Kabilov Tell at the VI Cbonds Conference

At the VI International Cbonds conference in Tashkent, Professor Botir Kabilov from the University of Texas at Dallas (USA) presented a report on Uzbekistan’s capital market.

According to the expert, Uzbekistan’s capital market is in the early stages of development, presenting significant prospects for growth and transformation. However, the successful development of this sector necessitates substantial changes, particularly in areas where the state holds a dominant role.

One of the primary constraints on the development of the capital market is the need for more transparency. Kabilov highlighted that, based on his analysis of data from the unified portal, approximately half of the joint stock companies in Uzbekistan keep their financial statements private.

The Analysis of the Unified Corporate Information Portal reveals that only over 300 organisations out of more than 600 JSCs published their annual reports.

“This is unacceptable,” the professor emphasised the need to strengthen regulation in this area.

Kabilov highlighted the importance of developing investment institutions such as pension funds. Reforming Uzbekistan’s pension system could attract long-term investments and enhance the stability of the financial market.

Kursiv Uzbekistan also reported that Botir Kabilov was the first Uzbekistani with a doctoral degree (PhD) from Harvard University.