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Uzbek banks may finance start-up creation centers

Business Materials 8 May 2018 11:53 (UTC +04:00)

Baku, Azerbaijan, May 8

By Fikret Dolukhanov – Trend:

Uzbekistan will create centers of innovative ideas, solutions and technologies in all regions of the country, the decree of Uzbek President Shavkat Mirziyoyev published on the official webpage read.

According to the decree, the centers will be focused on creating, testing and developing start-ups, as well as commercializing results of the innovative activity.

These organizations will carry out their activities on commercial basis. The centers will be exempted from all types of tax payments during the five years after creation.

The Uzbek government urged commercial banks of the country to issue preferential loans to the newly created centers.

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