Uzbekistan Boosts SME Growth and Employment Agenda

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan has held a high-level roundtable focused on accelerating the development of small and medium-sized enterprises (SMEs) and expanding employment opportunities, bringing together around 100 representatives of international financial institutions, government bodies, commercial banks, private sector companies, venture funds, and think tanks.

The event took place on May 5, 2026, at the Ministry of Economy and Finance of Uzbekistan. It was co-chaired by Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov and Antonella Bassani, Vice President of the World Bank for Europe and Central Asia. Deputy Minister Ilkhomjon Umrzakov served as moderator.

Key presentations were delivered by representatives of international organizations, including Naji Benhassine, Regional Director of the World Bank for Central Asia. Participants also included officials from the European Bank for Reconstruction and Development, Islamic Development Bank, United Nations Development Programme, Asian Development Bank, KfW, Asian Infrastructure Investment Bank, Japan International Cooperation Agency, and the German Corporation for International Cooperation.

The discussion centered on creating sustainable jobs and strengthening the role of SMEs in absorbing the growing number of people entering the labor market each year. Participants also reviewed coordination among international financial institutions and development partners, with an emphasis on improving the efficiency of financial resource allocation.

A major focus was placed on mobilizing additional funding sources, including private capital, to enhance SME productivity, competitiveness, and export potential.

Discussions highlighted several policy priorities, including improving the business climate, expanding access to finance, developing business infrastructure, and increasing private sector participation in the economy.

At the conclusion of the meeting, participants emphasized the importance of aligning ongoing and planned initiatives, as well as addressing gaps in entrepreneurship support. The roundtable was described as a platform for strengthening cooperation between Uzbekistan and international partners and laying the groundwork for further expansion of SME development and employment initiatives.