$40 million to be allocated to support young entrepreneurs in Surkhandarya

$40 million will be allocated to support youth entrepreneurship in the Surkhandarya region. The corresponding document was published on the Lex.uz portal.

According to the presidential decree of December 21, funds from the Young Entrepreneurs Support Fund under MIIT are planned to be allocated to finance projects in youth industrial zones.

Entrepreneurial projects will also be placed on the basis of industrial mortgages, and land plots for construction will be offered through an electronic online auction.

Industrial buildings and structures built by young entrepreneurs are sold on the basis of direct contracts.

Loans will be issued from the fund for a period of 10 years with a 3-year grace period. Loans in national currency will be provided by commercial banks for 11 years in an amount not exceeding the Central Bank rate by 4 percentage points – currently 18%.

The maximum loan size for a young entrepreneur will be $100 thousand, and in some cases – up to $500 thousand.

The resolution approves the creation of a youth industrial zone with an area of 4 hectares and the expansion of the territory of the Termez SEZ by including 17 hectares of land. The Surkhandarya regional administration, together with the MIIT, was instructed to ensure the construction of buildings in youth industrial zones of 6 districts in 2024, 8 districts in 2025 on the basis of an industrial mortgage.