Uzbekistan begins leasing 5.2 thousand hectares of land for 49 years

A total of 5.2 thousand hectares of land in Karakalpakstan, Jizzakh, Tashkent, and the valley regions have been put up for lease for a period of 49 years. This was announced on March 19 during a meeting between President Shavkat Mirziyoyev and representatives of small and medium-sized businesses, where discussions focused on enhancing the sector’s role in the economy and advancing its development.  

Entrepreneurs leasing these lands will have the freedom to plant any crops of their choice and establish storage, sorting, and packaging facilities for certain products.  

Additionally, it was revealed that another 30 thousand hectares of land will be made available for lease this year under a newly introduced system.  

The meeting also highlighted the recent establishment of "Uzagro-Star" Holding, under which nine banks have launched 16 companies specializing in fruit and vegetable production. These companies will develop agro-industrial complexes in each region to process fruits and vegetables. An initial investment of 200 billion sums has been allocated to support this initiative.  

Furthermore, it was announced that 120 trillion sums in financial resources will be provided to small and medium-sized businesses this year. Additionally, 22 trillion sums in preferential funding will be allocated to encourage entrepreneurship, with 2.5 trillion sums designated for youth entrepreneurship projects and another 2.5 trillion sums for women's entrepreneurship initiatives. Women entrepreneurs will benefit from a loan interest rate that is 2 percent lower than standard rates.