Founder of Freedom Holding Corp. Timur Turlov shared his perspective on the Uzbek market, Central Asian development, and his candidacy for the presidency of the International Chess Federation in a column for Kursiv Uzbekistan.

Market Assessment

"We have been working here for a long time and want to do more. I view the Uzbek market with great optimism," the entrepreneur writes.

He sees grounds for optimism in growing domestic demand alongside business activity and an increasing number of people ready to launch their own projects.

On the Company's Path

Turlov founded his business at age 21. Today, the group's shares trade on Nasdaq, and the market capitalization has exceeded $10 billion, according to him.

He separately notes the company's international expansion story: "We grew in a region that international investors viewed with considerable caution just recently. We had to prove that a company from Central Asia could compete in the international market."

This observation aligns with what local capital market participants say: the region's recognition among foreign investors remains a barrier that must be overcome separately from the quality of the assets themselves.

Partnership with the World Championship Match

Freedom Holding became the official partner of the upcoming world chess championship match.

The competitors will be defending champion Gukesh from India and Uzbek grandmaster Javokhir Sindarov, who recently won the candidates tournament. Both will begin the match at age twenty—this will be the youngest world championship match in history.

Context

The column was published during the Chess Olympiad in Samarkand, where national federations will elect new FIDE leadership. Turlov is one of the candidates for the organization's presidency.

Accordingly, the text should be read as a statement from an interested party ahead of the vote, rather than as neutral analysis of the regional market.

What Drives Interest in the Region

The attention of major financial groups to Uzbekistan has measurable grounds: the economy is growing at around 8.5% in the first half of the year, and international investors increasingly view local assets.

Previously, other major players announced their readiness to expand: South Korean Hana Bank is opening a representative office, Georgian Lion Finance Group is considering acquiring banks, and Nasdaq is discussing modernization of the Tashkent stock exchange.

For private investors, this means gradual expansion of infrastructure: more brokers, more instruments, and eventually greater liquidity when trading shares of local issuers.

This material is informational in nature and is not investment advice.