Tashkent, Uzbekistan (UzDaily.com) -- On 2 September, the International Congress Center in Tashkent hosts the second day of the annual meeting of the Board of Governors of the Islamic Development Bank (IDB). This event is attended by officials from the member countries of the IDB group.

On the second day of the meeting, the meeting “Changing the Paradigm of Economic Transformation, Expanding Opportunities for the Poor Population of Uzbekistan in the Post-Void Era” was moderated by Nabil Gallab, Director of Economic Empowerment, Department of the Islamic Development Bank. The following issues were discussed:

- Expansion of the economic opportunities of the IDB. The Poverty Alleviation Model and Inclusive Growth.

- Methods of using funds from financial donors and other stakeholders for vulnerable groups of the population.

- Key policy responses from governments to protect small businesses from the adverse effects of the pandemic.

- Investment opportunities in Uzbekistan for foreign and private investors.

The first question from the moderator was addressed to Shukhrat Vafayev, Deputy Minister of Investments and Foreign Trade of Uzbekistan, about how exactly the ministry helped and supported the poor, entrepreneurs and revived the socio-economic situation in the country.

According to Vafayev, the ministry is part of the government’s team and would not be able to support the poor and help private enterprises on its own. During the crisis, the President made every effort to create jobs. Private banks were also involved in cooperation to create microbusiness, under the slogan "every family is an entrepreneur." That is, not only social support was provided, but also support for private business. In fact, this program helped families in agricultural regions create jobs for themselves, thereby supporting the economy.

The moderator also asked the Deputy Minister to tell about the economic plans of Uzbekistan.

Vafayev drew attention to the fact that, firstly, the government pays great attention to the transformation of agriculture, the development of fish farming and other industries. Due to the fact that in this way self-employment of the population in the regions of the country is ensured.

Secondly, the state creates conditions for promoting entrepreneurship among women (opening beauty salons, kitchen companies, etc.).

The next direction is to involve the younger generation in business. Much attention is paid to the opportunities for launching startups. Thus, having developed their skills, they can either get a better-paying job, or, having received financial training (management, business management), start their own business.

In general, Uzbekistan pays great attention to supporting the business and economic environment to empower the population.