The resolution is directed at ensuring wide access to preferential microcredits, as well as increasing employment of population via stimulating individual employment.

President introduced simplified mechanism of allocation of microcredits to newly created individual entrepreneurs and family businesses, organized without creating legal entities.

According to the resolution, the microcredits will be issued at the volume up to 20 sizes of minimal salary. The goods of the individual businesses can serve as loan guarantee.

individual entrepreneurs and family companies can receive microcredits at the volume up to 60 sizes of minimal salary if the self-governing bodies provide guarantee to them or the bank receive other loan guarantees in line with the legislation.

Till 1 January 2021, individual entrepreneurs and family businesses will be freed from payment of fixed taxes for six months at obtaining microcredit.

If individual entrepreneurs or family companies are liquidated within 12 months from the state registration day or suspension of activities for three or more months, they should pay fixed tax for all period of activities.

Uzbek leader entrusted regional state bodies, ministries and departments, as well as economic entities should provide necessary products to individual entrepreneurs and family businesses due to microcredits of the commercial banks.

The resolution said that the banks will issue microcredits at the volume of up to 100 sizes of minimal salary to newly registered individual entrepreneurs and family businesses in 47 remote areas.