At the open dialogue with entrepreneurs in Tashkent, President Shavkat Mirziyoyev highlighted the rapid growth of domestic enterprises and outlined new measures to strengthen support for small and medium-sized businesses.
Over the past year, 1,600 Uzbek microenterprises exceeded a turnover of 10 bn soums ($802,153) and advanced into the category of medium business. Of these, 143 achieved turnover of more than 100 bn soums ($8 mln) and joined the ranks of large companies, while 122 small businesses also grew into major firms. In total, 47 companies reached a turnover of 400–500 bn soums ($32 mln-40 mln) for the first time.
Thanks to state efforts to bring business out of the shadow economy, 139,000 firms have created 811,000 new jobs. Payroll funds in the private sector have grown by 4.6 trln soums ($369 mln), pushing the average wage close to 5 mln soums ($401).
New financial tools
Looking ahead, the president announced that in 2026 banks will attract $1 bn dedicated to small and medium-sized businesses. The Entrepreneurship Development Company will channel up to $10 bn in concessional loans through banks to help create more «business champions». The company will also refinance projects in manufacturing, services and the green economy, cutting loan rates each year for 100,000 entrepreneurs.
Enterprises with a strong repayment record will see their loan guarantees increase by 1.5 times, while major businesses will be able to access guarantees worth up to 10 bn soums ($802,153). From next year, loan conditions will be simplified with the introduction of an alternative scoring model.
Easier credit and tax relief
The revised scoring system has already enabled 100,000 entrepreneurs to obtain financing by taking into account their tax compliance, utility payments and export performance.
In addition, tax rules are being adjusted to ease liquidity pressures. Companies with turnover of 10 bn soums ($802,153) will now be exempt from advance profit tax payments, a measure that will apply to those above 20 bn soums ($1.6 mln) in future. This change will free up 1 trln soums ($80.2 mln) in working capital for around 14,000 entrepreneurs.
Kursiv also reports that over the past eight years Uzbekistan has attracted $230 bn in investment.
