Establishing Stock Market Attractiveness and Investment Infrastructure in Uzbekistan through Effective Implementation of Corporate Governance Mechanisms

Over the years, large scale of economic reforms has been undertaken in Uzbekistan in order to develop necessary measures to improve investment climate. Compared to GDP, the annual turnover of stock market is 550 times smaller in Uzbekistan and the sale of securities constitutes only 1,6% of GDP. This shows the low level of market infrastructure development. This article assesses the development potential of the stock market and the scale of development of corporate governance mechanisms in Uzbekistan and provides the application of scientific and theoretical proposals considering economic, political and financial factors. Secondary data sources were used to formulate the paper with the main focus of reviewing best foreign practices.

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