Small and medium-sized businesses to receive 120 trillion sums in support – President

A large-scale program has been developed in Uzbekistan, in collaboration with foreign experts, to support the growth of small and medium-sized businesses. By 2025, a total of $10 billion will be allocated from various sources to finance the sector. This announcement was made today, March 19, during a meeting between President Shavkat Mirziyoyev and representatives of small and medium-sized businesses to discuss their role in the economy and strategies for further development.  

"This year, small and medium-sized businesses will receive 120 trillion sums in resources. Such a large amount has never been allocated before," the president stated.  

It was announced that a preferential fund of 22 trillion sums will be allocated to encourage entrepreneurship among the population. Of this amount, 2.5 trillion sums will be directed toward youth entrepreneurship initiatives, and another 2.5 trillion sums will support women-led business projects. Additionally, the loan interest rate for women entrepreneurs will be set two percent lower than the standard rate.  

"We must appreciate our women who, beyond homemaking and raising children, create jobs and generate income through entrepreneurship," the president said.  

It was also reported that this year, small businesses will be eligible for loans of up to 300 million sums. Entrepreneurs who expand their businesses from micro to small or medium-sized enterprises within a year will receive 150 million sums of this amount without collateral. Similarly, family businesses will be offered unsecured loans of up to 50 million sums.  

Officials were instructed to ensure that entrepreneurs without overdue debts from previous loans can access new preferential financing opportunities.  

The president outlined key goals for 2025, including:  

- Increasing the share of small and medium-sized businesses in the economy to 55 percent, generating $70 billion in added value.  
- Boosting small business exports from $9 billion last year to $12 billion by providing support in transportation, certification, and compliance with international standards.  
- Expanding the role of small businesses in key sectors, including water supply, sewage, road construction, utilities, logistics, waste management, migration services, culture, and social services, by two to three times.  
- Creating 1.5 million permanent jobs and increasing the sector’s share of total employment to 75 percent.  
- Increasing the number of enterprises with more than 100 employees to 4,000.  
- Launching 100 new brand-name products from small businesses.  
- Financing 200 startup projects with the participation of small businesses.  

"Supporting entrepreneurship is our strategic path! The faster entrepreneurship develops, the stronger our country will be, and the more prosperous our people will live," the president said.  

He also highlighted the importance of providing targeted support to small and medium-sized businesses, emphasizing their role in job creation, investment, innovation, competition, and exports.  

It was noted that, thanks to favorable conditions, the number of small and medium-sized enterprises in Uzbekistan has doubled over the past five years. Currently, 10.5 million people earn their livelihood in this sector, which accounts for more than half of the national economy, one-third of industrial production, and a significant portion of exports.  

"One truth must be clearly understood: every successful large business starts with a small idea and determined action.  

Small businesses adapt quickly to change, embrace innovation and competition, and, most importantly, play a vital role in employment and income growth.  

For this reason, supporting small businesses will remain one of the priorities of state policy," the president concluded.