Tashkent, Uzbekistan (UzDaily.com) — President of Uzbekistan Shavkat Mirziyoyev met with representatives of small and medium-sized businesses.

"Supporting entrepreneurship is our strategic path! The faster business develops, the stronger our country becomes, and the more prosperous our people live.

In December, during the 'open dialogue,' we mainly communicated with large entrepreneurs and outlined further plans.

Today, we must find an answer together to the question: What needs to be done to support fast-growing representatives of small and medium-sized businesses and help them become real 'champions'?" the head of state said at the beginning of his speech.

Small and medium-sized businesses in our country are becoming a key driver of job creation, attracting investments, implementing innovations, fostering competition, generating added value, and increasing exports.

During the meeting, it was noted that thanks to the favorable conditions created, the number of small and medium-sized enterprises has doubled over the past five years. These businesses employ 10.5 million people, providing income for their families.

More than half of the economy, a third of industrial production, and a third of exports are attributed to this sector.

"It is important to clearly understand one fundamental truth: every successful large business starts with a small idea and the first steps.

Small businesses are the most dynamic sector, quickly adapting to changes, embracing innovation and competition, and, most importantly, actively creating jobs and increasing people's incomes.

Therefore, supporting small businesses will remain one of the key priorities of state policy," the President emphasized.

The President outlined the main goals and objectives for small and medium-sized businesses in 2025, including increasing the share of small and medium-sized businesses in the economy to 55% and generating $70 billion in added value; facilitating access to new markets by addressing transportation, certification, and standardization issues and increasing small business exports from last year’s $9 billion to $12 billion; expanding the share of small businesses in sectors such as water supply, sewage, roads, construction, utilities, logistics, waste management, migration, culture, and social services by 2–3 times; creating 1.5 million permanent jobs and raising the share of the workforce employed in small businesses to 75%; increasing the number of enterprises with more than 100 employees to 4,000; launching the production of 100 new branded products in small businesses; and financing 200 startup projects involving small businesses.

The President also introduced new initiatives to further develop the sector.

In particular, a large-scale program for the development of small and medium-sized businesses has been developed in collaboration with international experts. In 2025, $10 billion from all available sources will be allocated for its implementation.

"This year, small and medium-sized businesses will receive 120 trillion soums in resources. Such a large amount has never been allocated before," the head of state noted.

Specifically, 22 trillion soums in preferential resources will be provided to involve the population in entrepreneurship. Of this amount, 2.5 trillion soums will be allocated to youth entrepreneurship projects, and the same amount will go toward supporting women’s businesses.

For female entrepreneurs, loan interest rates will be 2% lower than for others.

"Our women, who not only manage households and raise children but also create jobs and sources of income for others, deserve the sincerest words of gratitude," the President said.

Starting this year, small businesses can receive loans of up to 300 million soums. Entrepreneurs who expand their businesses and move into the small or medium-sized enterprise category within a year will be eligible for 150 million soums of this amount without collateral. Additionally, within family entrepreneurship programs, interest-free loans of up to 50 million soums will be available.

Government agencies have been instructed to provide new preferential loans to entrepreneurs who do not have overdue debts on previous loans.

Alternative sources of business financing, such as venture funds, are gaining popularity.

Over the past five years, 53 startup projects worth $145 million have been implemented in Uzbekistan with the participation of venture funds.

The President noted that this is still not enough: Nine state-owned banks have created three venture companies and formed a $50 million fund, opening up significant opportunities for aspiring entrepreneurs.

"Most importantly, such projects introduce new directions, technologies, innovations, and high-value-added products into the economy.

Innovative products and services created by startups will be included in technical regulations and standards, giving them access to government contracts," the head of state emphasized.

The President also supported the proposal to direct part of venture fund resources to artificial intelligence projects.

Over the past three years, 250,000 new enterprises have been established in the country, many of which require land and facilities to expand their activities.

"Hokims must put up for auction those land plots requested by entrepreneurs with ready-made projects and expansion plans," the President said.

For example, the company "Mingboev Robotics" in the Yunusabad district produces prosthetics and exoskeletons for people with disabilities, helping them return to an active life. To expand its business, the company has requested a suitable facility with accessibility for people with disabilities.

Such high-tech companies will be granted state-owned premises of up to 10,000 square meters for free for a period of five years.

Additionally, a new system is being introduced: In 15 districts, all government institutions will be relocated into a single multi-story building in the city center, and the first two floors of new buildings will be sold to entrepreneurs.

In these districts, 150 government-owned buildings that are being vacated will also be auctioned for business purposes.

An additional 500 billion soums will be allocated for small and medium-sized business infrastructure, in addition to the previously planned 1 trillion soums.

In Karakalpakstan, Jizzakh, Tashkent, and the regions of the Ferghana Valley, 5,200 hectares of land will be put up for auction with a 49-year lease right.

Entrepreneurs will be allowed to independently choose agricultural crops and construct storage, sorting, and packaging facilities. Over the next year, an additional 30,000 hectares of land will be auctioned under the new system.

A holding company, "UzAgro-Star," has been established, incorporating 16 specialized enterprises for fruit and vegetable processing. At the first stage, 200 billion soums will be allocated for their development.

President Shavkat Mirziyoyev noted that entrepreneurs are increasingly striving for innovation, cost reduction, and expansion into new markets. However, many lack access to specialists, technologies, and new solutions.

To address this, project offices dedicated to supporting small and medium-sized businesses will be established in 20 districts. These offices will attract foreign engineers, technologists, designers, accountants, and marketers. A total of 100 billion soums will be allocated for this initiative.

These project offices will help enterprises lower production costs, improve quality and technology, and scale up production to an industrial level.

Additionally, a special support program will be launched for entrepreneurs engaged in strategically important sectors such as medical device manufacturing, electronics, logistics, and industrial equipment.

It was emphasized that supporting new entrepreneurs, especially during their first year of operation, is of paramount importance.

Over the past three years, 17,500 companies have ceased operations without even completing their first year. Particular attention was drawn to the fact that officials in Samarkand, Kashkadarya, Khorezm, and Jizzakh regions have been ineffective in supporting new businesses.

"From now on, a 'first chance' principle will be introduced for new entrepreneurs. This means that an entrepreneur who commits an administrative violation for the first time will be exempt from liability and given the opportunity to correct their mistakes.

Simply put, entrepreneurs just starting their business will be ‘insured’ against penalties for their first mistake," the President stated.

Currently, all categories of entrepreneurs face the same requirements for business closure. Regardless of their size, all companies are required to undergo a financial audit. As a result, thousands of small businesses that have applied for voluntary liquidation must wait for inspections and audits to be completed.

To simplify this process, it was announced that companies with a three-year turnover of less than 10 billion soums and no outstanding tax liabilities will now be able to liquidate voluntarily without undergoing an audit.

Until 1 January 2028, VAT and corporate income tax rates will remain unchanged.

"In addition, a three-year moratorium will be introduced on the adoption of regulatory acts imposing additional requirements and obligations on small and medium-sized businesses. There is also important news for farmers: the accumulated 1 trillion soums in penalties for overdue tax payments will not be collected," the President declared.

Significant global changes are being driven by artificial intelligence, innovation, digital and green technologies, as well as creative industries.

"The unique nature of our country—its mountainous and steppe landscapes, historical monuments—offers vast opportunities for new projects in the film industry, entertainment, and tourism," President Shavkat Mirziyoyev stated.

For instance, the historical complex of Ichan-Kala serves as a ready-made film set for movies and TV series. Many countries spend millions of dollars constructing similar studios.

Additionally, major cities such as Samarkand, Bukhara, Shakhrisabz, Kokand, and Namangan have all the necessary infrastructure to host international exhibitions, forums, and concerts.

"I am ready to create the most favorable conditions for ambitious entrepreneurs who want to implement projects in these areas," the President emphasized.

During the meeting, it was announced that a five-year strategy has been developed to guide the future development of small businesses.

This initiative is backed by international financial institutions that are committed to supporting the integration of best practices, innovations, technologies, and global standards into new business sectors. To facilitate this, financial resources totaling $470 million have already been allocated.

Specifically, the Asian Development Bank will provide $100 million under the "Financial Inclusion" program to support small and medium-sized businesses.

The European Bank for Reconstruction and Development will allocate $200 million for green and innovative projects.

The French Development Agency will contribute €30 million to support female entrepreneurship.

Representatives of these organizations in Uzbekistan spoke at the meeting, sharing their perspectives and recommendations.

The President expressed gratitude for the support and emphasized that all necessary conditions would be created to further expand cooperation.

Furthermore, he endorsed the initiative to establish a Small Business Association, which will enhance competitiveness, facilitate entry into new markets, provide training in modern standards, promote branding, and support startup development.

A comprehensive support system has been mobilized to assist small businesses—ranging from district-level advisors and mahalla bankers to banks, the Ministry of Employment, and deputy prime ministers.

Regional governors and key officials were instructed to establish effective dialogue with small business representatives and promptly address systemic issues they raise.

The President personally met with entrepreneurs, listened to their proposals, and issued relevant directives to responsible officials.

"We believe in the business potential of the New Uzbekistan. You can be sure of one thing: the President will always be your most reliable supporter. Keep driving innovation, and I will keep supporting you. In this regard, I am signing a decree that includes all the proposals and initiatives discussed today. Moreover, all the planned relief measures will take effect immediately, without requiring additional documentation," the President declared at the conclusion of the meeting.