The Competition Committee together with the Research Center, the Central Securities Depository and Tashkent Stock Exchange developed Uzbekistan’s Secondary Securities Market Development Concept for 2017-2018.

The main goal of the Concept is to determine the strategy and areas of activity of state bodies, all participants of financial markets, in order to create the necessary conditions for the development in Uzbekistan of the secondary corporate securities market.

Uzbekistan’s Development Strategy on five priority areas for 2017-2021 envisages the development of the financial markets as an alternative source of attracting capital and placing savings of enterprises, financial institutions and individuals.

Proceeding from this the Concept defines a system of ideas, views, doctrine, strategy of actions to develop the secondary securities market and to improve the mechanism of its functioning during transition to market economy, liberalization of the economic system.

It is also aimed at organizing normal, crisis-free circulation of securities, creating conditions for investing through purchase and sale of securities, minimizing the possible incurred losses by investors, stable work of the trades organizers and traders.

The document contains an analysis of the reasons restraining the development of the secondary securities market, among which the low liquidity, red tape to information disclosure, relatively high price of transactions, insufficient number of investment intermediaries and other participants in the provinces of the country, etc.

The Concept defines the preconditions for the development of the secondary securities market in Uzbekistan, among which : positive macroeconomic figures, favorable business environment, legal framework, efficient primary securities market, tax benefits for securities transactions, liberalization of the activities of traders, as well as cooperation with the Korean Stock Exchange.

In August 2016 in Uzbekistan was launched the Software and Hardware Complex, created together with the Korean Stock Exchange. Its implementation created the conditions for registering tens of thousands of transactions daily worth hundreds of billions of soums, and also provided protection for traders from questionable transactions. The new Complex opens up even more ambitious prospects for the country's financial markets.

The Concept defines the strategic provisions for the development of the secondary securities market, including the government policies aimed at developing the secondary securities market, creating the necessary resource base, developing special programs, improving tax policy and disclosure of information on issuers , Increasing the liquidity of securities, developing clearing operations, improving the carrying out of corporate actions, including payment of income on securities and the OTC secondary market, development of IPO projects, development of infrastructure, financial literacy of the population and others.

Achieving the goals and objectives specified in the Concept and implemented within the secondary securities market development programs will require efforts, among which amending securities market legislation and the rules of stock exchange, organization of a significant number of activities of government bodies, issuers, investors, and all state bodies, market structures and non-state public institutions involved in the stock market and interested in its full development.