In his deal with to entrepreneurs and businesspeople, President of Uzbekistan Shavkat Mirziyoyev not too long ago emphasised that Uzbek businesspeople have needed to cope with components reminiscent of disruptions in logistics and provide chains resulting from varied conflicts, foreign money devaluation in companion international locations, and the price escalation of monetary assets owing to excessive world inflation.
“I believe that if we draw the right lessons from our shortcomings and move forward, our hardworking and enterprising people will undoubtedly overcome any difficulty,” he mentioned.
He underscored that probably the most acceptable response in such a fancy state of affairs is to instantly hear in regards to the issues from the business representatives themselves and collectively discover options.
As famous by the president, medium-sized companies play a pivotal function in Uzbekistan’s financial system, however the present circumstances for them are insufficient. Therefore, new approaches will probably be applied to help entrepreneurs aspiring to transition from small business to medium-sized enterprises.
This yr, throughout an open dialogue with entrepreneurs, the president of Uzbekistan proposed a collection of initiatives that had been formulated primarily based on the obtained strategies and aimed toward enhancing the business atmosphere within the nation.
A call has been made to considerably overhaul the operational strategies of the present business help funds.
The Entrepreneurship Fund will now be answerable for offering monetary help to service, environmental and energy-efficient tasks, whereas the Industrial Development Fund will oversee industrial tasks. Foreign-qualified managers will probably be invited to handle the funds.
Moreover, the funds are empowered to draw impartial investments past budgetary assets.
It is projected that by means of these means, they are going to contribute a further $1 billion for financing medium-sized companies over the subsequent yr. In every area, at least three new industrial zones will probably be established. An industrial mortgage system will probably be launched, and manufacturing areas will probably be constructed within the type of “ready-made businesses” for entrepreneurs. Privatization of land plots will probably be permitted after launching manufacturing in industrial zones and fulfilling funding commitments.
Over the previous seven years, entrepreneurship has turn out to be a precedence path in Uzbekistan’s public coverage. The authorities has launched incentives, credit are being allotted and complete help is being supplied to all classes of companies, from small to giant.
In flip, the important thing annual occasion in Uzbekistan that shapes the long run paths of business growth is the president’s conferences with entrepreneurs in an open dialogue format. These occasions enable business representatives to share their proposals and opinions, which can undoubtedly be heard.
New alternatives for SMEs
To help and foster the event of small to medium-sized enterprises (SMEs) a complete ecosystem will probably be established.
For this function, the “Qishlok Qurilish Bank” will probably be remodeled into the “Business Development Bank,” the Uzbek media reported.
According to the president, each its actions and strategies of operation will bear important adjustments, together with financing mechanisms.
Specifically, a small business middle will probably be established in every area below the auspices of the financial institution. These facilities will facilitate the event of business tasks initiated by entrepreneurs.
They will independently present coaching for entrepreneurs looking for to implement new tasks, entice vital specialists, and provide accounting, tax, auditing, advertising and marketing, authorized, and different consulting companies. The facilities will help new enterprises in adopting fashionable applied sciences, enhancing worker {qualifications}, and successfully launching their merchandise, Mirziyoyev famous.
In his speech, the president famous that the acknowledged funds are empowered to independently entice investments.
Consequently, within the coming yr, they goal to draw a further $1 billion for medium-sized companies.
One of the numerous alternatives for increasing exports is attracting prestigious overseas manufacturers to Uzbekistan. Following the president’s directive, a working group performed negotiations with main manufacturers from Spain, Germany, Poland and Türkiye.
To facilitate the investments and place orders with the native enterprises three essential considerations they’ve will probably be addressed. International requirements and ecological and certification necessities for manufacturing will probably be applied. Adequate working circumstances will probably be established, and a positive customs regime for the import and export of merchandise from famend manufacturers will probably be launched.
Source: www.dailysabah.com
