President: Small business is priority in Uzbekistan

Uzbekistan, Tashkent, Sept 14 /Trend D.Azizov/

Since independence, Uzbekistan has placed a priority on small business, which is the "driving force for solving the most pressing problems of overcoming the crisis," President Islam Karimov said at the opening of the international conference The role and importance of small business and entrepreneurship in the implementation of socio-economic policy in Uzbekistan on Friday.

The president noted that Uzbekistan wanted not only to share experience in the development of small business and entrepreneurship, but also learn from the experience gained over the centuries in the developed and developing countries.

It is difficult to overestimate the role of entrepreneurial business in provision of employment and income growth of people, especially in Uzbekistan, Karimov said.

Uzbek President outlined the reasons and factors, based on which advanced development of small business and entrepreneurship is chosen as a priority.

The area has a higher resistance to the challenges of the global financial and economic crisis compared to large enterprises.

"In short, small business and private entrepreneurship in nature are constantly expanding base for the formation of the middle class. As you know, the middle class is the foundation of any democratic state," Islam Karimov said.

"Only through the accelerated development and dominance of small business and private entrepreneurship in Uzbekistan, we were able less painfully to cope with the negative effects of the crisis of 2008-2009," the head of the state said.