Enhancement of financial sector discussed in Tashkent

An international scientific-practical conference on the theme "Increasing the role of the financial sector in Uzbekistan through the use of foreign experience" took place today in the Tashkent Financial Institute.

The event was organized in cooperation with the Central Bank, Ministry of Finance and Banking-Finance Academy of Uzbekistan.

During the conference, it was noted that conduction of scientific researches aimed at deeper study of the priorities of the reforms in the country’s financial system in conditions of modernization of the economy, as well as conducting of scientific practical conferences has a great importance.

Globalization of the world economy, integration of countries and intensification of international specializations puts in front of the national economy a task of improving production efficiency, reducing production costs, and obtaining a worthy place on the global market. Therefore, carrying out economic reforms aimed at stabilizing of the financial sector is considered as one of the most urgent tasks in our country.

A rapid growth of our country’s economy achieved due to the use of all available opportunities and continuation of viable reform strategies. In particular, the implementation of specific measures and activities for the development of private entrepreneurship, business, creation of necessary conditions and comfortable environment for a wide attraction of investments, industrial development and modernization of production, technical and technological renewal, commissioning of high-tech and modern production facilities. In addition, much attention is given to the increase of the production volume of consumer goods, expansion of localization of production of spare parts and materials, the accelerated implementation of specific measures aimed at strengthening the resource base and liquidity, capitalization of banks, as well as expansion of their investment activity, social development, improvement of real income and employment.

Modern problems of ensuring the stability of public finance, the development of stock market, corporate governance system, as well as improvement of investment climate and attraction of foreign investments ,increase of financial stability of banks were discussed at the conference as well.

As was noted at the event, the study of international experiences of audit and accounting, the perfection of financial relationships between subjects of small business and private entrepreneurship is of great importance in solving problems.

It was emphasized that this conference will serve as a platform for exchange of views on topical problems associated with the growth of financial sector’s role, the development of scientific proposals that have practical value based on successful international experience and current trends of the financial sector.

IA "Jahon"