President: 120 trillion soums of resources will be provided to small and medium-sized businesses this year

At today's meeting, President Shavkat Mirziyoyev put forward new initiatives for the sector. In particular, a large-scale program has been developed with foreign experts to develop small and medium-sized businesses. $10 billion will be allocated for this in 2025 from all sources.

"This year, 120 trillion soums of resources will be provided to small and medium-sized businesses. Such a large amount has never been available before," the head of state said.

In particular, 22 trillion soums of preferential resources will be allocated to attract the population to entrepreneurship. Of this, 2.5 trillion soums will be allocated to youth, and the same amount will be allocated to women's entrepreneurship projects.

The loan rate for women entrepreneurs will be 2 percent lower than for others.

“It is worth thanking our women who, leaving home and raising children, make people employed and profitable through entrepreneurship,” the President said.

This year, loans of up to 300 million soums have begun to be provided to small businesses. Now, entrepreneurs who have grown in size and become small or medium-sized enterprises in one year will be provided with 150 million soums of this amount without collateral. Similarly, family businesses will be provided with up to 50 million soums of unsecured loans.

The authorities were instructed to create an opportunity for entrepreneurs who do not have overdue debts from their previous loans to obtain new preferential loans.

It was noted that the expected results of the above initiatives, that is, the main goals and objectives in the sector for 2025, are as follows:

• Increase the share of small and medium-sized businesses in the economy to 55 percent and create an added value of $70 billion;
  
• Promote small business exports from $9 billion last year to $12 billion by facilitating access to new markets through transport, certification and standards;
  
• Increase the share of small businesses in drinking water, sewage, roads, construction, utilities, delivery, disposal, migration, culture and social services by 2-3 times;
  
• Create 1.5 million permanent jobs and increase the share of the employed population in the sector to 75 percent;
  
• Increase the number of enterprises with more than 100 employees to 4,000;
  
• Launch 100 new brand products in small businesses;
  
• Financing 200 startup projects with the participation of small businesses.
  

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