Uzbekistan set to support exports by small businesses, private enterprises
Baku, Azerbaijan, Oct. 7
By Ali Mustafayev – Trend:
Large-scale institutional and structural reforms are being implemented in Uzbekistan with purpose of stimulating further development of small business and private entrepreneurship, Ministry of Economy of Uzbekistan said in a message.
Appropriate measures are taken within the framework of the Strategy of Action on Five Priority Development Directions for 2017-2021.
“Today in conditions of fierce competition in foreign markets and ongoing crisis, entering new markets is quite difficult. In these difficult conditions, it becomes easier for small business and private entrepreneurship to show flexible adaptation, which ensures the dynamics of export activities,” said the message.
Over the past 15 years, the share of exports of small businesses and private entrepreneurship in total exports of the country has increased three-fold and presently amounts to 27 percent, according to the ministry.
“The number of small and large enterprises engaged in export activities has increased by 1.5 and 1.6 times, respectively, over the past five years.”
To stimulate the production of export-oriented high-quality products and increase the competitiveness of enterprises, Uzbek President Shavkat Mirziyoyev adopted a resolution on measures to further streamline foreign economic activity of the Republic of Uzbekistan on Sept. 29.
These measures are expected to increase the economic efficiency of Uzbekistan, support small businesses and private entrepreneurs, and provide fertile environment for production and further promotion of exports.