Presidential decree has been drafted aimed at broad involvement of individuals in small and medium-sized businesses. The draft provides for a number of important points:

In 2024, the following system will be introduced to attract 2 million people into entrepreneurship:

a) training individuals and entrepreneurs, assistance in the implementation of projects, thereby establishing the chain: family entrepreneur - microbusiness - small business - medium business;

b) financial support for small and medium-sized business projects will be provided on the basis of a unified financial system, consisting of Business Development Bank, Tadbirkorlikni Rivozhlantirish Kompaniyasi (entrepreneurship Development Company) and other commercial partner banks. In particular, the following will be provided:

• for family entrepreneurship program – 10 trillion soums (Halq Bank and Microcreditbank);

• for the program to expand microfinance services – 3 trillion soums and $100 million (Microcreditbank and Halq Bank);

• for the program “continuous support of small businesses” – 6 trillion soums and $1.2 billion (Business Development Bank);

• 1.5 trillion soums and $100 million will be allocated for the “financial support program for medium-sized businesses” (Tadbirkorlikni Rivozhlantirish Kompaniyasi).

c) entrepreneurship training, project financing and support at all stages will be provided at Small Business Assistance Centers and Entrepreneurship Development Companies, as well as on electronic entrepreneurship platforms.

While, to finance small business projects, a total of $300 million will be contributed from the Recovery and Development Fund to the Business Development Bank, including $75 million to increase the bank’s authorized capital and $225 million in the form of a subordinated loan at 5% for a period of 15 years.

The Business Development Bank will be in charge of creating and expanding the activities of 150 thousand small entrepreneurs; for this purpose, $1.2 billion will be raised from international financial organizations, and $300 million will be issued in the form of Eurobonds.

The Entrepreneurship Development Company will be responsible for increasing average businesses by 2.5 times (from 10 thousand to 25 thousand), and for this purpose financial services will be increased from 8 trillion to 14 trillion soums, $300 million will be issued in the form of Eurobonds, and mortgages for services will also be provided to 450 enterprises.

The Republican Commission (Zh. Kuchkorov) will be instructed to approve, by December 15, 2023, targets for involving 2 million people in entrepreneurship in 2024, broken down by regions and areas of government programs.

From January 1, 2024 to January 1, 2026, small entrepreneurs created on the basis of cooperation with large enterprises with state participation will be allowed to sell their products to government customers under direct contracts worth up to 10 billion soums per year.

To implement the measures provided for by the draft resolution, $300 million will be allocated from the Reconstruction and Development Fund.