Ministry of Economy and Finance of the Republic of Uzbekistan

The meeting was attended by World Bank project leaders in Uzbekistan, officials of the Ministry of Economy and Finance, representatives of Entrepreneurship Development Company JSC, and other relevant stakeholders.
 

During the discussions, the parties exchanged views on private sector development, support for small and medium-sized enterprises (SMEs), enhancement of export potential, attraction of investments, and the creation of new and quality jobs for the population, particularly for young people.
 

The participants emphasized that SMEs serve as a key driver of economic growth and highlighted the importance of supporting export-oriented enterprises, strengthening their competitiveness, and expanding their access to international markets.
 

The meeting also reviewed the next stages of the Small Business and Jobs Coalition initiative, which is being established with the participation of international financial institutions, government agencies, and private sector stakeholders. The platform is intended to facilitate coordination of programs and resources supporting entrepreneurship, prevent duplication of initiatives, and enhance the effectiveness of reforms aimed at SME development.
 

It was noted that, within the framework of the Coalition, the parties discussed strengthening cooperation in improving the business environment, expanding access to finance, ensuring effective utilization of grant funding and technical assistance programs, attracting private investment, and developing the necessary infrastructure to support business growth.
 

The parties also reviewed the current status and future plans of the Access to Finance for Jobs and Growth – FINGROW Project, which is being implemented in cooperation with the World Bank. The project aims to expand access to finance for entrepreneurs and support innovative, energy-efficient, and high-potential business initiatives through guarantee mechanisms and a fund-of-funds approach.
 

Discussions further covered the conceptual directions of the Scaling & Accelerating Better Jobs, Investment, and Inclusive Transformation (SaBIIT) Project. This initiative is designed to support high-growth startups, new exporters, and enterprises ready for modernization, while enhancing productivity and promoting integration into global value chains.
 

The parties also exchanged views on the implementation of the World Bank’s B-READY Subnational Assessment. The assessment is aimed at analyzing business practices across regions, evaluating existing procedures in areas such as construction permitting, international trade, and property registration, and developing practical recommendations for improving the business environment.
 

In addition, discussions focused on strengthening the competitiveness of the national economy through the development of digital technologies, artificial intelligence, innovation, and the production of high value-added goods.
 

At the conclusion of the meeting, the parties reaffirmed their commitment to continuing cooperation aimed at supporting sustainable economic development, enhancing the potential of the private sector and SMEs, and creating quality employment opportunities across the country.

PR and Communications Department

Ministry of Economy and Finance