Uzbekistan plans to attract $1 billion in investments in fintech startups by 2030. This is reported by Trend, citing the country's Central Bank. The main investments will be directed to the development of fintech companies to increase competition and accelerate the introduction of new technological solutions in the market.
To manage the process, a national fintech development strategy will be developed for a five-year period. In the future, the ecosystem will be formed and coordinated based on this document. As part of the reforms, the Central Bank will create a venture fund with a volume of $50 million and an Innovation Hub. These platforms will combine financial support, mentoring, training and acceleration programs, ensuring the rapid launch of new projects and expanding opportunities for young entrepreneurs.
It is planned to train 5,000 specialists and include 100 startups in acceleration programs. As the human resources potential in the fintech sector grows, the quality, speed and security of banking and payment services are expected to improve.
Banks will also implement open banking principles, which will ensure standardized and secure data exchange between banks, payment organizations and fintech companies.
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