Growth policy shifts from survival to scale.
Khiva, Uzbekistan
Uzbekistan has announced a five-part economic reform package combining nearly €1 billion in explicit funding with new credit, technology, export and regulatory measures. President Shavkat Mirziyoyev presented the plan during his annual dialogue with entrepreneurs, attended by approximately 25,000 business representatives across the country. The government argues that Uzbek companies are moving beyond simply establishing operations and are now seeking capital for expansion. Official figures indicate that both the business loan portfolio and corporate investment in fixed assets have nearly tripled during the past five years.
Financing reforms will include a digital portal through which companies can submit one application and receive competing credit offers from multiple banks. New entrepreneurs will be able to request loans worth up to approximately €365,000 online. For financing of up to €731,000, businesses would provide only 25 percent of the collateral, with the remaining guarantee divided among the state, banks and the Business Guarantee Company. Advance payments for electricity and gas will also fall from 100 percent to 15 percent for compliant businesses using automated metering systems, potentially releasing significant working capital.
Artificial intelligence forms the technological core of the package. Under the AI Partner for 10,000 Enterprises programme, the state plans to cover half the cost of introducing AI into participating companies. Businesses developing models for new products will also receive free access to supercomputing capacity. At least €86 million has been allocated to the programme’s initial phase, indicating that Tashkent wants AI adoption to extend beyond technology startups and into established industries.
Export development represents the largest directly funded component, with approximately €862 million assigned to a unified support system. A proposed Export Navigator will provide information about foreign demand, tariffs and logistics, while authorities identify 100 products with international sales potential. The government intends to adapt production at 2,000 companies to foreign market standards and subsidize branding, digital marketplaces and participation in international tenders. Separately, 50 large private companies will be selected annually for assistance with international accounting standards and preparations for stock-market listings.
Regulatory changes could prove as consequential as the financing. Small businesses will receive a three-year moratorium on most inspections, while average commercial penalties are expected to be reduced by half. A proposed presumption in favor of entrepreneurs would prevent sanctions until the state proves wrongdoing in court, reversing the traditional burden placed on companies. The package is ambitious, but its success will depend on whether funding reaches competitive enterprises transparently and whether regulatory protections survive implementation beyond the announcement stage.
Phoenix24: clarity in the grey zone. / Phoenix24: claridad en la zona gris.