Tashkent, Uzbekistan (UzDaily.com) — Entrepreneurs in Uzbekistan will gain access to 20 trillion soums in working capital through factoring. This was announced by President Shavkat Mirziyoyev.

The President highlighted that many exporters face delays in receiving payments for their products for 3–4 months, which increases their need for working capital to ensure uninterrupted production.

To address this issue, a factoring system will be introduced, as the demand for such services in Uzbekistan is estimated by the International Finance Corporation (IFC) to be around US$10 billion annually.

Factoring is expected to provide entrepreneurs with an additional 20 trillion soums in working capital, and exporters will gain access to financial resources totaling US$1 billion.

Recently, President Shavkat Mirziyoyev signed a decree titled "On Measures for the Accelerated Development of the Factoring Services Market."

According to the decree, a system of factoring organizations will be established to finance through the assignment of monetary claims (factoring).

Factoring organizations will be able to commence operations after completing registration with the Central Bank and being included in the registry of non-bank credit organizations.

Starting from 1 January 2025, factoring transactions in foreign currency will be permitted if the client’s counterparty is a non-resident.