In Andijan, 30 administrative buildings will be vacated for business

In Andijan, 30 administrative buildings will be vacated for business needs

At the meeting chaired by the President in the Andijan region, it was noted that along with the growing income of the population, the demand for modern services is also increasing.

The buildings and areas vacated by moving state organizations in Andijan to the city of Babur will be directed towards the development of the trade and services sector.

By relocating 30 administrative buildings, 13 hectares of land and 70,000 square meters of space will be vacated for business. Through this, there is an opportunity to attract an additional $1 billion in investment and create at least 20,000 jobs.

The task was set to transform the centers of Asaka, Shahrixon, Qo‘rg‘ontepa, and the city of Khanabad into high-income business zones. Their master plans will be adapted to projects that will create at least 20,000 jobs in the trade and services sector.

The need to transform state banks based on the principle of growing clients' businesses was noted.

Since the beginning of the year, 35,000 people who could not find collateral or a guarantor were not granted loans. It was specifically pointed out that banks should not limit themselves to traditional collateral and uniform standard conditions.

From now on, comprehensive financial products based on real cash flow, orders and contracts, accounts receivable, turnover, and the business chain will be widely introduced.

A long-term contract concluded by small entrepreneurs with a leading enterprise or a large customer will be accepted as loan collateral.

A business plan will not be required for financing projects up to 500 million soums. Loans will be allocated based on cash flow, not collateral. For loans to purchase raw materials for exportable products, an insurance policy alone will be sufficient as collateral.

Nine state banks were tasked with offering 20 new banking products within a month to help grow businesses. Neighborhood (mahalla) bankers will explain the new services to the population and entrepreneurs.