Uzbekistan implements “Every Family – Entrepreneur”
08/06/2018 17:16
Uzbekistan implements “Every Family – Entrepreneur”
08/06/2018 17:16
Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev signed a resolution “On implementation of the program “Every Family – Entrepreneur” on 7 June.
The document is aimed at ensuring a radical improvement of material conditions, significant positive changes in the quality and level of people’s way of life.
It should be reminded that the President of Uzbekistan got acquainted with the concept of the program during his visit to Andijan region in May 2018.
The implementation of the program "Every Family - Entrepreneur" will be launched from 10 June in Andijan region. The State Committee for Investments of Uzbekistan will direct US$200 million for attracting credit lines of foreign financial institutions for implementation of the program in Andijan region.
The document said that the employees of the economic complex of Andijan region will visit foreign countries to study the experience of foreign countries with an advanced level of development of family business.
The program will be implemented in other regions on the basis of the relevant decisions of the Cabinet of Ministers. It will cover every region and city, including remote regions and areas with severe natural and climatic conditions.
The program envisages full support of entrepreneurial initiatives of the population wishing to engage in business, allocation of concessional loans and the provision of systematic practical assistance at each stage of organization and implementation of entrepreneurial activities.
The program will create mini-clusters for development of entrepreneurship. It is planned to expand the scope of services provided to the subjects of family business through the creation of market infrastructure facilities, points of service and service.
In addition, business entities temporarily not engaged in financial and economic activities and not having passed state registration will be identified to restore and legalize their activities.
The head of Uzbekistan ordered to allocate preferential loans to banks in the amount up to 150 times the minimum wage - for the development of family business, up to 1000-fold size - for registered small business entities and over 1000-fold for lending to investment projects of business entities.
The President instructed the Ministry of Finance in conjunction with insurance organizations to set an insurance premium of not more than 1.5% and to simplify insurance conditions when insuring banks with the risk of non-payment of loans.
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