Uzbek President said that small businesses and private entrepreneurship play important role in forming modern structure of economy, which ensures satisfaction of changing demands, creation of new jobs and growth of income of population.

He underlined that it is difficult overemphasize role of this sector in creation of medium class, which is reliable bearing for modernization of the country.

Islam Karimov called critically evaluate achieved in this area compared with experience of developed countries. He said that Uzbekistan should do a lot in this area.

President determined four main directions of supporting small businesses and private entrepreneurship in the country. First, the country should create the most favourable conditions for businesses and provide more freedom to entrepreneurship, small and private businesses, eliminate bureaucratic barriers and obstacles.

He said that current business environment, creation conditions and dynamics of business development should serve as main criteria for assessment of activity of khokims (governors).

Islam Karimov said that prosecutor-general should consider any illegal interference to financial-economic activity of small businesses and private entrepreneurship as resistance to the state policy on deepening economic reforms and adopt measures against violators in line with the legislation.

Second, Cabinet of Ministers was entrusted to critically analyze legislation, regulating activity of small businesses and private entrepreneurship, he said.

Uzbek leader said that it is necessary to liquidate all old, forced and unnecessary limits and banks, cut interference of state and controlling bodies in financial-economic activity of small businesses and private entrepreneurship.

Third, it is necessary to increase access of small businesses and private entrepreneurship to loans, raw materials and state procurements, Uzbek President Islam Karimov said.

President ordered Finance Ministry and Economy Ministry to develop mechanism on expanding access of small businesses to state procurements due to allocation of special quotes and step-by-step introduction of electronic system on placement of public procurements for products, works and services among small businesses.

He said that Central Bank of Uzbekistan and commercial banks should continue work on further improving mechanism and increasing volume of small business crediting, first of all, long term loans for investment purposes and formation of starting capital, expanding microcrediting. He said that the volume of loans of commercial banks should increase 1.3 times at least.

Uzbek head ordered Uzbekistan Banking Association and commercial banks to create Fund for Financing of Preparation of Project Documentation on Investment Projects, which should cut expenses of small businesses to prepare business plans, improve their quality and decrease terms of loan issuing.

“Fourth, we should create necessary organizational, legal and financial mechanisms and terms for developing export potential of small business,” Uzbek leader said.

He underlined that it is necessary to abolish all excessive internal procedures on registration of foreign trade operations for small businesses and provide additional preferences for export of products of this sector.

President Islam Karimov said that it should be acknowledged that not all small businesses can export their products due to high expenses and inexistence of information on market and knowledge on legislation of foreign states.

Uzbek leader Islam Karimov ordered Ministry of Foreign Economic Relations, Investments and Trade in cooperation with Uzstandard and Chamber of Commerce and Industry of Uzbekistan to create mechanism on assisting small businesses in implementation of their products in external markets, holding marketing, receiving certificates and permissions.