Government to Support Projects of Young Investors and Entrepreneurs

On December 25th, Deputy Minister of Investment, Industry and Trade, Khurram Teshabayev took part in a dialogue between the Ministry and young Uzbek investors and entrepreneurs, the Ministry’s official website reported.

The event gathered senior officials of the ministry and more than 500 representatives of the younger generation – successful investors and business people from all regions of the country, in online and offline formats.

Opening the meeting, Teshabayev emphasized the importance of involving young people in entrepreneurial and investment activities, saying that a number of opportunities have been created in Uzbekistan to realize the potential of young people, including within the framework of the “Uzbekistan-2030 Strategy”.

Today, the task of providing comprehensive support to young entrepreneurs and investors has been elevated to the level of state policy, the Deputy Minister said. Youth industrial-entrepreneurial zones with preferential treatment for manufacturers have been created, a fund to support young entrepreneurs has been established, which provides assistance in the implementation of investment projects and entrepreneurial initiatives, covering the production of products and the provision of services, startup projects and scientific research.

Young entrepreneurs can receive support both by obtaining an infrastructurally developed territory for organizing production facilities, and in the form of financial assistance for the implementation of projects for the production of import-substituting products that are in high demand in foreign markets. To date, the Fund for Support of Young Entrepreneurs has allocated funds for the implementation of about 700 youth projects, with about 150 of them located in Youth Industrial Zones.