Mirziyoyev announced new measures to support businesses
The President of Uzbekistan presented new measures to support entrepreneurs, including lending programs and a counter-guarantee mechanism.
Mirziyoyev Announces New Initiatives to Support Entrepreneurship
Tashkent, Uzbekistan (UzDaily.uz) —
On August 18, President of Uzbekistan Shavkat Mirziyoyev, speaking at an open dialogue with business representatives in the Khorezm region, presented a number of new measures aimed at stimulating entrepreneurial activity. These include the launch of specialized programs for companies at various stages of development and the introduction of a loan counter-guarantee mechanism, according to the press service of the President of the Republic of Uzbekistan.
According to the head of state, the share of small businesses in total bank loans increased from 45% to 63%. During the first half of this year, 76.5 trillion soums were allocated to small and medium-sized businesses.
A unified digital portal for obtaining credit services has also been launched in the country. Entrepreneurs will now be able to submit a single application, after which banks will compete for the right to provide them with a loan. Aspiring entrepreneurs can now apply for loans of up to 5 billion soums online.
The President announced the creation of a comprehensive business support ecosystem tailored to each stage of development. The "Business Start" program will be launched for startups, "Business Lift" for companies with established production, and "Business Yuksalish" for enterprises preparing for the next stage of growth.
Under the "Business Start" program, entrepreneurs will undergo training using artificial intelligence in project preparation, loan documentation, and reporting. 100 billion soums have been allocated for this program. Participants will have access to ready-made business plans and unsecured loans of up to 200 million soums.
Shavkat Mirziyoyev specifically addressed the issue of collateral, which remains a serious obstacle for small businesses. To address this, it is planned to introduce a counter-guarantee mechanism that will allow for the real value of a business to be taken into account when issuing loans.
For loans up to 10 billion soums, the state will cover 30% of the collateral, the Business Guarantee Company will cover another 30%, and banks will cover 15%. Thus, entrepreneurs will only need to provide 25% of the loan amount as collateral.
Furthermore, the "Virtual Tax Consultant" portal (Soliq AI), developed using artificial intelligence, has launched. Its goal is to help entrepreneurs reduce costs and minimize errors.
Starting in 2027, similar AI assistants are planned to be implemented in the areas of construction, labor relations, foreign trade, and government services.
The president also announced other measures aimed at developing logistics and foreign trade. In 2027, Uzbekistan plans to open a logistics center with a capacity of 500,000 tons in the Georgian port of Poti and begin operations at the port of Anaklia.
In addition, it is planned to abolish customs duties and recycling fees on the import of trucks, and to establish a zero VAT rate on the provision of railcars for international transport.