Draft law on startups discussed in Uzbekistan with participation of over 60 entrepreneurs
In Tashkent, more than 60 representatives discussed the draft law on startups. Issues of investments, state support, and legal status were reviewed at the meeting.
Draft law on startups discussed with participation of over 60 entrepreneurs in Uzbekistan
On October 30, a draft law on startups aimed at forming legal conditions for the development of startup activities in Uzbekistan was discussed in Tashkent.
The event was attended by over 60 representatives of state bodies, startup companies, the investment community, startup ecosystem organizations, and international partners.
The meeting was organized by the Ministry of Economy and Finance of Uzbekistan and the International Finance Corporation (IFC), a member of the World Bank Group. The event was held with the support of the Foreign, Commonwealth & Development Office of the United Kingdom (FCDO).
Opening the meeting, Timur Khusanov, Head of the Department for Analysis, Support, and Coordination of State Policy in the Field of Small and Medium Business Development of the Ministry of Economy and Finance, noted that the state's approach to the startup sector is gradually changing.
According to him, instead of directly selecting promising projects, creating equal and favorable conditions for the development of all market participants is becoming a priority task.
This approach was also supported by Neil McCain, Head of IFC for Uzbekistan and Turkmenistan, and Charlie Morris, Economic Development Advisor for Central Asia at the FCDO.
Participants reviewed the role of startups in developing innovation, accelerating digital transformation, increasing labor productivity, and creating new jobs. Special attention was also paid to expanding opportunities for youth and women's entrepreneurship.
During the discussion, criteria for identifying startups and granting them relevant status, state support mechanisms, and issues of attracting investments and qualified specialists were also raised.
In addition, participants assessed how well the provisions of the draft law align with the innovative development policy being implemented in the country.
At the end of the meeting, the need to create a clear and transparent legislative framework that startups can apply in practice, taking into account changes in the market environment and new trends in the development of the sector, was emphasized.