• Sign in
  • 1744009905_435.svg 1744009905_642.svg

  • Latest news
  • Top headlines
  • Most read
  • Columnists
O'zbekcha
Ўзбекча
Русский
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • Latest news
  • Top headlines
  • Most read
  • Columnists
    • USD12456.25
    • RUB158.36
    • EUR14461.71
    • Google play
    • App Store
    • Telegram
    • Tashkent
      +41°C
      • Andijan
      • Karshi
      • Bukhara
      • Samarkand
      • Ferghana
      • Sirdarya
      • Jizzakh
      • Termez
      • Namangan
      • Tashkent
      • Navoiy
      • Tashkent reg
      • Nukus
      • Urgench
    • Daryo
      • About Daryo
      • Editorial office
      • Contact us
      • Terms of use
      • Privacy policy
      • News archive
    • Advertisement
    • Social networks
      • Instagram | Main
      • Instagram | Lifestyle
      • Instagram | Sport
      • Facebook | Main
      • OK | Main
      • YouTube | Daryo
      • YouTube | Daryo in Russian
      • YouTube | Daryo Global
    Telegram Youtube Facebook Instagram Twitter vkontakte
    Daryo logo white
    • Uzbekistan
      • Others
      • Navoi
      • Tashkent region
      • Syrdarya
      • Jizzakh
      • Kashkadarya
      • Surkhandarya
      • Khorezm
      • Bukhara
      • Samarkand
      • Namangan
      • Fergana
      • Andijan
      • Karakalpakstan
      • Tashkent City
      • DaryoKindness
      • Weather
    • Central Asia
      • Uzbekistan
      • Afghanistan
      • Kyrgyzstan
      • Kazakhstan
      • Turkmenistan
      • Tajikistan
    • World
    • Money
      • Business
      • Economics
      • Finance
      • Crypto
    • Culture
      • Movies
      • Books
      • Music
      • Celebrities
    • Lifestyle
      • Women only
        • Children
        • Beauty
        • Carrier
        • Advises
        • Fashion
        • Recipes
      • Technology
        • Architecture
        • Gadjets
        • Science
        • Space
        • Media
      • Auto
      • Entertainment
      • Travel
      • Health
      • Education
        • Entrant
        • Learn english
    • Sport
      • Football
      • UFC
      • Boxing
    infinix
    Daryo.uz - Login
    Daryo.uz Daryo.uz
    Daryo.uz - Login
    Economics

    Uzbekistan's financial market and stock market: year in review with Karen Srapionov [Video]

    Uzbekistan's financial market and stock market: year in review with Karen Srapionov [Video]

    Karen Srapionov, a leading financial expert, advisor, and managing partner at Avesta Investment Group, shared valuable insights into Uzbekistan's financial and stock market performance over the past year, comparing it with previous years' trends.

    Karen Srapionov, Avesta Investment Group Managing Partner
    Source: LinkedIn

    Financial Market Dynamics

    Discussing the overall performance, Srapionov noted, "The turnover this year is a bit slower than the last year." In 2022, the turnover was around $400mn, while for the first nine months of 2023, it was less than $200mn, indicating a decrease in large transactional activities. Srapionov attributes this to the absence of significant transactions like those of a large cement manufacturers and Banks last year, which each contributed around $50 to $70mn.

    Stock Market Trends

    In terms of the stock market, Srapionov highlighted the importance of smaller deals. "For deals lower than $100,000, we see about 5-6% of the market," he said, emphasizing the increasing number of such transactions. This rise is partly due to mobile trading platforms, making securities trading more accessible.

    Policy Changes and Efficiency

    Srapionov also addressed the frequent policy changes affecting market efficiency. He remarked, "This year was very inefficient, three changes of the regulator mean a lot." These regulatory shifts have impacted the pace of market development but are seen as opportunities for future growth.

    Future Projections

    Looking ahead to 2024, Srapionov expressed optimism: "2024 will be much more interesting and will bring us a few new instruments to the market." He anticipates new developments due to policies implemented this year, such as Islamic bonds and exchange-traded funds.

    Key Players in the Stock Market

    Regarding the composition of the stock market, Srapionov observed that "the leading 5-10 companies are usually the most traded," indicating a dominance by a few key players. However, he also mentioned recent IPOs of smaller deals and the potential for new players to enter the market in 2024.

    Russian Investment Influence

    On Russian investments in Uzbekistan's stock market, Srapionov noted, "We don't see any significant process here." While there is some retail investment from Russia, substantial institutional investment is lacking. This observation aligns with the broader trend of international markets affecting Uzbekistan's financial landscape.

    ESG Initiatives and Renewable Energy Projects

    ESG (Environmental, Social, and Governance) initiatives have become increasingly important. Srapionov mentioned, "This year the government paid special attention to ecological issues." He referred to sustainable bonds issued internationally and collaborations with international organizations targeting ESG and sustainable growth.

    Renewable Energy Developments

    Regarding renewable energy, Srapionov spoke of "about 30 projects... with a huge amount of investments." While only a few have launched or are in the implementation phase, significant progress is expected in 2024 and 2025, with the government moving towards a free market in energy states.

    Challenges and Opportunities for 2024

    Srapionov foresees 2024 as a pivotal year, with economic and political factors posing challenges but also presenting opportunities for reforms. "Very painful reforms" are expected, along with strategic and legislative changes to facilitate market growth and stability.

     

    Srapionov's insights offer a comprehensive view of Uzbekistan's financial market and stock market over the past year. The focus on smaller transactions, regulatory changes, ESG initiatives, and the anticipation of new market instruments and players set a dynamic stage for Uzbekistan's economic landscape in the coming years.

     

    Watch the video for the full analysis:

    Follow Daryo's official Instagram and Twitter pages to keep current on world news.

    30.12.2023, 01:49   Comments (0)   4512
    Facebook Twitter LinkedIn Telegram Email

    Comments (0)

    Sign in
    Leave A Reply Cancel

    On this topic

    Top 20 service sector enterprises in Uzbekistan contribute over $1.6 bn in taxes

    30.12.2023, 00:08

    Uzbekistan 2024: goldmine of investment opportunities in evolving economy

    29.12.2023, 23:30

    Afghanistan lifts restrictions for Uzbek rail transit through its territory

    29.12.2023, 19:17

    S&P Global Ratings declares Kapitalbank's 'B' rating with stable outlook

    28.12.2023, 12:26

    Ministers of Uzbekistan and Afghanistan discuss fast-tracking $5bn Trans-Afghan Railway project

    27.12.2023, 14:27

    33.2% dive in world oil prices brings 21.3% drop in Uzbekistan's gasoline rates in 2H 2022

    27.12.2023, 01:09
    ×Lightbox Image

    Daryo.uz | Solution to your problems


    Don't want to waste time standing in lines? Pay your utility bills through the Ipoteka Retail mobile app?


    More than 500,000 new users: residents of Uzbekistan choose the Hambi superapp


    Beeline Uzbekistan started 2025 with a significant network modernization


    Beepul 's rising popularity: 3.5x user growth, transaction up 2.3x in 2024

     

    Recommended

    Iran as the pressure point: How Washington’s campaign against Tehran seeks to undercut China and Russia - and why Central Asia risks the fallout

    19 June, 12:24

    "Visa simplification with Uzbekistan could be on the table," EU Ambassador Klaar points out

    11 June, 12:12

    “Uzbekistan is undergoing large-scale reforms and transformation,” says EU business leader at TIIF

    11 June, 08:34

    Central Bank warns half of monthly income goes to loans as debt burden rises in Uzbekistan

    3 June, 12:34
     
     
     

    Latest news

    Uzbekistan highlights digital transformation at 2025 UN Public Service Forum in Samarkand

    Uzbekistan | 25 June, 14:37

    Uzbekistan, Mongolia to fast-track trade and investment agreements in push for closer ties

    Uzbekistan | 25 June, 13:38

    Presidents of Uzbekistan and Mongolia adopt joint declaration on comprehensive partnership

    Uzbekistan | 25 June, 12:26

    Uzbekistan’s economy to grow 5.9% in 2025 and stabilize at 5.7% by 2030, says IMF

    Uzbekistan | 25 June, 10:34

    Mongolian students to resume education in Uzbekistan as leaders strengthen ties

    Uzbekistan | 25 June, 09:06

    Uzbekistan’s foreign trade turnover rises 15% y/y in 5M25, reaching $31.3bn

    Uzbekistan | 24 June, 17:22

    Kazakhstan targets $150bn in foreign investment by 2029

    Kazakhstan | 24 June, 14:30

    Kyrgyzstan, EU, and UNDP partner to upgrade early warning systems

    Kyrgyzstan | 24 June, 13:22

    World Bank approves $101mn to support Kyrgyzstan’s energy reforms and inclusive growth

    Kyrgyzstan | 24 June, 12:00
    Daryo About Us

    Full reproduction or partial quoting of material, as well as the use of photographic, graphic, audio and/or video materials of Daryo (the Uzbek Press and Information Agency (UzAPI, now the Agency for Information and Mass Communications under the Presidential Administration of the Republic of Uzbekistan) is registered on 13.03.2015 with certificate number No. 0944 as a mass media) is allowed if there is a hyperlink to the website daryo.uz and/or are accompanied by a note indicating the authorship of the online publication Daryo. Individual publications may contain information that is not intended for users under the age of 18. Info@daryo.uz

    Telegram Youtube Facebook Instagram Twitter vkontakte

    © Simple Networking Solutions, 2013–2025

    Age restriction

    Did you find a bug? Press Ctrl + Enter

    • Terms of use
    • Privacy policy
    • Advertisement
    What are we going to search for?

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Google

    or with email

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Register Now

    Already registered? Login.

    Google

    or with email

    A password will be e-mailed to you.

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Found an error in the text?

    ×

    Thank you. We have received your message and will fix the error as soon as possible.