President Mirziyoyev Advocates Entrepreneurial Expansion in Uzbekistan
Tashkent, The Gulf Observer: In a decisive move towards bolstering the nation’s economic landscape, President Tashkent, The Gulf Observer: In a decisive move towards bolstering the nation’s economic landscape, President Shavkat Mirziyoyev conducted a comprehensive review of proposals conducted a comprehensive review of proposals aimed at amplifying the role of entrepreneurs and augmenting their participation in export activities. The President’s commitment to this initiative was initially articulated during a pivotal videoconference meeting on December 18, 2023, prompting the subsequent development of innovative strategies in collaboration with entrepreneurs and industry experts.
An exhaustive analysis revealed that, despite the provision of considerable assistance amounting to 665 billion UZS to exporting enterprises in the previous year, generating exports valued at $3 billion 200 million, certain industries and regions did not optimally leverage these funds. Notably, sectors such as electrical engineering, agriculture, pharmaceuticals, and jewelry failed to meet average export levels. Furthermore, 2,709 potential exporters remained unsupported by industry associations. To address these shortcomings, a consolidated system encompassing production concerns in regions, industrial zones, and exports is slated for implementation.
A pivotal proposal involves the transfer of 12 sectoral and industrial associations to the Chamber of Commerce and Industry system. This strategic move aims to shift responsibility for supporting projects and exports from the state to the realm of entrepreneurs’ self-governance. The anticipated outcome is enhanced decision-making on entrepreneurs’ requirements and concerns, fostering increased interaction within the entrepreneurial community.
Drawing inspiration from successful models in developed countries, Uzbekistan is set to establish a Trade Development Company, consolidating the functions of existing agencies and funds in the sphere. This new entity will engage qualified designers, technologists, and marketers from abroad, ensuring domestic products align with international standards, facilitating market entry, and promoting national brands globally. The company will administer subsidies, compensation, and other forms of support based on entrepreneurs’ sustainability ratings.
President Mirziyoyev emphasized the imperative to strengthen collaboration between the Chamber of Commerce and Industry and Uzbekexpertiza JSC, with the introduction of project offices to support entrepreneurs at the district level. Underscoring business development as a cornerstone of economic reforms, the President articulated his vision for robust support mechanisms for entrepreneurs.
Crucial aspects highlighted included the necessity to evaluate the functions and performance criteria of associations, enhance the qualifications of their managers and employees, and prioritize regional engagement in developing new projects and exports. Responsible officials presented plans aimed at catapulting local industry exports to $12 billion this year, reflecting the government’s steadfast commitment to propelling Uzbekistan’s economic growth through entrepreneurial prowess and international trade.
