Uzbekistan, KODIT Sign Deal to Support Entrepreneurs

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan has signed a memorandum of cooperation between JSC “Company for Entrepreneurship Development” and the Korea Credit Guarantee Fund (KODIT), aimed at strengthening the country’s business support system and introducing international best practices in credit guarantee mechanisms.

The document was signed following a meeting between Umid Abidkhodjaev, Deputy Minister of Economy and Finance of Uzbekistan, and Kang Sung-jung, Chairman of KODIT. The talks took place as part of the second stage of a phased cooperation and knowledge exchange program between the two sides, with participation from company chairman Abboskhon Mahamatov.

The main focus of the discussions was improving entrepreneurship support mechanisms in Uzbekistan through the use of advanced international practices. The parties paid particular attention to enhancing the effectiveness of guarantee instruments, digitizing processes, and expanding opportunities for innovative startups.

Following the meeting, the memorandum of cooperation was signed, which is expected to serve as a foundation for systematic experience sharing and further development of bilateral cooperation.

The agreement also provides for the introduction of best international practices into the operations of the JSC “Company for Entrepreneurship Development” and strengthening the institutional framework supporting small and medium-sized enterprises in the country.