Small business grows in Uzbekistan's GDP

Business Materials 5 May 2015 14:47 (UTC +04:00)

Tashkent, Uzbekistan, May 5

By Demir Azizov- Trend:

The share of small business in Uzbekistan's GDP in January-March 2015 increased to 41.7 percent compared to 41 percent in the same period of 2014, the message of the Ministry of Economy and the State Statistics Committee of Uzbekistan said.

In industry, the share of small business was 29.8 percent (26.8 percent a year earlier) on the results of the first quarter, in paid services - 48.4 percent (42.7 percent), in employment - 76.8 percent (76.4 percent).

Since the beginning of 2015, more than 8,000 new small businesses (10.2 percent increase) have been created. The largest number of small businesses was created in industry and other manufacturing industries (37.7 percent of the total number), in the construction industry (11.5 percent) and trade and catering (29.3 percent)

Since the beginning of the year, 55 state assets totaling 28.3 billion soums, including 13 objects at zero redemption value with the adoption of obligations by investors to make investments in the amount of 9, 7 billion soums have been sold to private owners sold as part of the program of privatization of state property in 2015-2016.

The official exchange rate for May 5 is 2,517.80 UZS / $1.

In the first quarter of 2015, loans in the amount of 2.8 trillion soums, including more than 590 billion soums of microloans (1.3 times increase compared to the same period of 2014) have been allocated to small business, credit lines of international financial institutions, provided for the development of small business, in the amount of $38.3 million have been drawn.

The number of small business entities accredited to supply their goods and services for public procurement has increased by more than four times - up to 34,200 subjects, or 98.3 percent of the total number of participants in public procurement.

As a result, since the beginning of 2015, small businesses had the volume of public procurement amounting to 77.9 billion soums (99.6 percent of total public procurement volume carried out by means of electronic trading).

Production export of small businesses and private entrepreneurship amounted to over $560 million.

Edited by CN