On August 20, Uzbekistan President Shavkat Mirziyoyev announced new initiatives aimed at supporting entrepreneurship in the country.
First of all, the services sector will be actively developed as the most effective area for creating short-term and quick-paying jobs. A new program for the development of tourism is being launched. In the next three years, 5 thousand hectares of land will be auctioned for the organization of hotels and tourist facilities. At the same time, entrepreneurs wishing to build a hotel will not be charged for the land – the state will enter the project as a co-founder for the amount of the cost of the land plot.
Entrepreneurs will be able to buy out this share within ten years at any time. If payment is made at once, a 20 percent discount will be provided. Seven-year loans with a two-year grace period will be available for hotel construction.
The president identified new opportunities in the spheres of education and medicine.
In particular, in 80 districts with low enrollment in pre-school education, entrepreneurs will be granted privileges. They will be allowed to build kindergartens on vacant land of pre-school institutions and schools on the terms of public-private partnership. At the same time, no land rent will be charged for 30 years.
For entrepreneurs creating medical clusters, loans will be provided for 7 years with a three-year grace period at an annual interest rate of 17 percent.
Today there are more than 600 startups operating in Uzbekistan. In the first seven months of this year alone, they attracted a record volume of $264 million in foreign investment. This work will continue: it is planned to commercialize a thousand startup ideas of young people, 200 of which will be brought to the international market. On the basis of advanced technologies, 100 local startups will turn into attractive world-class businesses. For this purpose, $100 million will be allocated.
The head of state also announced that from 2026, the principle of “Start a business in 15 minutes” will be introduced. Upon registration, an entrepreneur will be immediately provided with an electronic digital signature, a bank account, and a notification to the state authorities.
