Our President has identified priority areas for taking entrepreneurship to a new level

The President outlined the main directions for taking entrepreneurship to a new level.

The conference was attended by about 25 thousand entrepreneurs from all regions of the country, including district studios.

The Head of State congratulated the 1 million 200 thousand business community, which makes a worthy contribution to strengthening the country's economic power, on Entrepreneurs' Day.

Since the tradition of open dialogue with entrepreneurs was established five years ago, thousands of issues that hindered business development have been resolved. 84 laws, 861 decrees and resolutions have been adopted in this regard.

"Why? To create conditions for our entrepreneurs, increase new jobs, and make our people profitable in their own neighborhoods, without going far away!" - said the President.

Over the past period, the loan portfolio allocated to business has increased almost 3 times, reaching 450 trillion soums. Investments in fixed capital by enterprises have also increased 3 times.

The number of districts with an industry turnover exceeding $100 million increased from 66 to 116, and the number of districts with a service volume exceeding $1 trillion increased from 41 to 152. The number of entrepreneurs who have created a national brand and opened branches across the country has expanded.

The President noted that in recent years, new opportunities for entrepreneurship have also been created in Khorezm. In a short period of time, $4 billion in foreign investment has entered the region, and 10,000 new capacities have been put into operation. Today, small businesses generate 72 percent of the regional economy, and their share in exports has reached 81 percent.

Despite the difficult situation in the world, the economy of Uzbekistan grew by 8.5 percent in the first half of this year. International rating agencies have improved the country's sovereign credit rating.

The Head of State noted that these results are, first of all, the result of reforms being implemented shoulder to shoulder with entrepreneurs.

Based on the issues raised by entrepreneurs at the meeting, new initiatives were announced in five priority areas.

**The first area is ensuring a sustainable growth trajectory for entrepreneurship.**

A new system for financing small and medium-sized businesses will be created. Through the "Single Digital Portal of Credit Services", entrepreneurs will be able to receive offers from banks with a single application, and those who are just starting a business will be able to apply for a loan of up to 5 billion soums online.

A holistic ecosystem will be created for each stage of business, and the "Business Start" programs will be introduced for new entrepreneurs, "Business Lift" for those who have started production, and "Business Upscaling" for those who are moving to a new stage of growth.

Within the framework of "Business Start", entrepreneurs will be taught to prepare project and loan documents and keep reports using artificial intelligence. A ready-made business plan and unsecured loans of up to 200 million soums will be provided.

"We will not only provide loans to entrepreneurs, but create a comprehensive system that will support them from the very beginning until they turn into big businesses," the head of state said.

In order to simplify the issue of collateral for small businesses, a "counter-guarantee" system will be introduced. For loans up to 10 billion soums, it will be enough for the entrepreneur to provide a 25% collateral.

**The second direction is to expand business opportunities in the regions.**

The advance payment for the purchase of state assets will be reduced from 30% to 15%. Having paid half of the cost, the entrepreneur will be able to pay the remaining amount in installments over 7 years, interest-free.

Land plots to be auctioned will be put up for sale in the form of a "ready-made package" with the necessary documents for construction.

2.5 thousand properties worth 9 trillion soums on the balance sheet of banks will be allowed to be sold at a discounted price, without an initial payment and with interest-free installments.

"Bond industrial zones" will be established in part of the Navoi, Jizzakh, Namangan, Urgut and Hazorasp special economic zones. They will establish localization, R&D, laboratory and engineering services in a single chain.

The requirement for 100% advance payment for energy and gas will also be revised. For enterprises connected to the ASKUE and ASKUG systems and adhering to payment discipline, the advance will be set at 15%.

**The third direction is the creation of an ecosystem of "artificial intelligence - management efficiency - new investments".**

"Today, any entrepreneur who increases added value, increases productivity with the help of artificial intelligence, and searches at cost price, tomorrow's market belongs to him," the President said.

The program "Artificial intelligence for 10 thousand enterprises - a partner" will be launched. 50% of the cost of introducing artificial intelligence to enterprises will be compensated. Free use of a supercomputer will be provided for creating models for new products.

At least $100 million will be allocated for the first stage of the program.

An acceleration program will be launched to bring local enterprises to the capital market, and 50 large enterprises will be prepared for IPO every year.

A personnel training component will be mandatory in large investment projects. The experience of vocational training established in Urgench will be implemented in all regions, and it is aimed to train 1 million young people in modern professions.

**The fourth direction is to increase export potential and bring national brands to foreign markets.**

The "Export Navigator" system will be launched, which will provide comprehensive services at all stages of entering foreign markets. A list of 100 products in high demand abroad will be formed, and market, tariff and logistics solutions will be developed for each.

The production process of two thousand enterprises will be adapted to the requirements of the foreign market. Entrepreneurs will be reimbursed for part of the costs of attracting foreign brand makers, promoting the national brand in foreign markets, participating in marketplaces and international tenders.

At least $1 billion will be allocated to a unified system of support for exporters.

"Today, the struggle for the market is intensifying every day in the world. In such a situation, an entrepreneur who goes abroad should never feel alone," the head of state said.

The activities of "export ambassadors" will be launched in key and promising foreign markets. The terms of foreign exchange earnings on exports will be extended and some restrictions will be lifted.

**The fifth direction is a sharp reduction in administrative pressure on business.**

"Bringing the economy out of the "shadow" should not be done through inspections, but by showing entrepreneurs the way and teaching them to work correctly," the President said.

A three-year moratorium will be declared for any inspections in small businesses that are not related to harm to human health and the interests of other entrepreneurs.

If medium and large businesses that have passed a voluntary preventive audit eliminate deficiencies, fines will not be applied. The amount of all types of fines will be reduced by an average of 2 times.

Next year, the "presumption of the entrepreneur's rightness" and the "warning for the first mistake" rule will be introduced in disputes between entrepreneurs and the state.

Half of state services related to entrepreneurship will be transferred to the "silence - consent" principle. Licenses and permits for more than 30 types of activities will be canceled, and the terms for issuing 35 more will be reduced.

Instead of several permits required for food exports, a single "Health Certificate" will be introduced.

Measures to support entrepreneurs in the tourism sector were also determined at the meeting.

$50 million will be allocated for the construction, reconstruction and equipment of hotels. The period of granting subsidies for the construction of three, four and five-star hotels will be extended for another two years, and land and property tax benefits will be extended until 2030.

The services provided by tour operators to foreign tourists will be equated with exports. Benefits for the import of tourist buses and electric buses will also be continued.

At the end of the meeting, the main milestones for bringing the economy to a new level were set.

"We are a nation of 40 million. We need to maintain high economic growth in order to further improve the lives of our people," said the head of state.

This year, the task was set to increase gross domestic product by $180 billion and exports by $40 billion.

New growth points were identified based on the potential of each region. The task was set to develop export-oriented business in Tashkent, a full-chain industry in the Fergana Valley, tourism, creative industry and agro-industrial brands in Samarkand, Bukhara and Khorezm.

Mining, metallurgy and scientific chemistry in Navoi and Tashkent regions, agro-industry and oil and gas chemistry in Kashkadarya and Surkhandarya, "green" energy, information technologies and artificial intelligence in Karakalpakstan, and automotive, electrical engineering and construction materials in Jizzakh and Syrdarya were identified as the main growth areas.

During the open dialogue, the President listened to the proposals and initiatives of entrepreneurs.

"A new generation of entrepreneurs is being formed in our country who think modernly and strive for innovation to expand their business. Never stop striving forward, growing, developing, and innovating! Behind you is a strong state that always supports you, laws that protect your rights and interests, and a President who stands shoulder to shoulder in realizing your initiatives and goals!" - said the head of state at the end of the meeting.