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Uzbekistan spends $11.5bn to support small business in 2020

The Uzbek government last year spent $11.5bn in providing loans and financial assistance to small businesses, President Shavkat Mirziyoyev said on April 8.

Mirziyoyev added that more than 104,000 enterprises in Uzbekistan affected by the coronavirus pandemic have resumed operations, while the working capital of private enterprises has increased by 33% compared to last year.

The president harshly criticised regional and sector leaders who have failed to take full advantage of available economic opportunities.

He said: “We are living in a difficult period. Every day we need to look for something new, strive, work for the final goal. We have to support entrepreneurs, create conditions for them. No matter how much money we allocate, how many decrees and resolutions we adopt, how many favourable conditions we create, everything will be in vain if the lower-level managers do not change their worldview, are not friends with the entrepreneur."

Mirziyoyev also touched upon problems in infrastructure. He said that some 320 entrepreneurs have been unable to put to work around $220mn worth of equipment that they have imported over the past two years.

Over 2,500 people stand to lose jobs due to insufficient electricity supplies, he mentioned.

The government has allocated $192mn to solve utility and infrastructure shortcomings. By the end of this year, 168 industrial zones are to be provided with 468 kilometres of electricity networks, 362 kilometres of gas pipelines, 405 kilometres of water supply networks and 104 kilometres of roads.

The Business Ombudsman has been instructed to study the problems of entrepreneurs in infrastructure and make proposals to the prime minister to remedy them.

Mirziyoyev also noted that nearly $100mn was allocated for the development of the service sector during the pandemic.

This year, entrepreneurs are to be provided with at least $3.8bn in loans to replenish working capital; export enterprises are set to enjoy $100mn of revolving loans.

A procedure is to be created for granting entrepreneurs who show good discipline in paying taxes on time the option of paying 50% of taxes in installments over three years.

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