President Meets with Namangan Entrepreneurs

An open dialogue took place in the city of Namangan to discuss plans for socio-economic development of the region.

Over the past five years the number of businesses in Namangan Region has increased by 15 thousand and exceeded 32 thousand. During this period, the volume of products manufactured by private businesses increased 1,6 times and reached 8,3 trillion Uzbek soums. This is the biggest figure in the country.

«Just imagine, once subsidized six years ago, the region now has a solid income base, a modern industry and active entrepreneurs», Shavkat Mirziyoyev has said. «Simply put, Namangan has literally become a land of business people, a center of small- and medium-sized businesses».

The support for entrepreneurship was a priority issue at the meeting.

According to analysis, the production at three thousands of industrial enterprises in the region decreased this winter due to the cold snap. The tax debts of many businesspersons have also increased.

For this reason, the President announced that he had signed a decree to compensate losses in the economy and support business development. The document provides for preferential terms for loans, taxes, customs duties and other payments to businesses affected by the cold snap.

In particular, for two thousands of small and medium-sized businesses the term of loan payments in the amount of 4,7 trillion Uzbek soums, to be returned in January-March, will be prolonged until June 1. A total of 29 thousand entrepreneurs will have an opportunity to repay tax debts of 2 trillion Uzbek soums untill July 1 by installments with no interest, additional collateral and interest charges. A credit line of 8 trillion Uzbek soums will be opened for 545 industrial enterprises to restore production and replenish working capital. There are also preferential terms for payments for the purchase and rent of state-owned property. A 10% property tax discount will be introduced for entrepreneurs for each top floor of industrial buildings.

These opportunities were gleefully welcomed by the entrepreneurs.

«Thanks to the development of Namangan's economy this year, we have set a big goal to provide work places for about 500 thousand people. These plans can be implemented only by relying on and supporting entrepreneurs», the President has said.

This year, preferential loans worth 950 billion Uzbek soums, or twice as much as last year, will be provided for family businesses in the region. A special textile zone will be created and 75 billion Uzbek soums will be allocated for the infrastructure of 15 industrial zones. In addition, at least 2 microhubs will be set up in each district.

The Ministry of Energy has been tasked with daily monitoring of power supply to entrepreneurs and uninterrupted flow of energy resources.

The need to grow the marketable food products on 9,5 thousand hectares of land distributed to the population has been pointed out.

The instructions on social support for women and youth employment were given.

The President was also briefed on new proposals and initiatives of businesspeople.