On August 18 of this year, under the leadership of the Deputy Prime Minister of the Republic of Uzbekistan S. Umurzakov, a meeting of the Government Commission on foreign trade, investment, development of local industry and technical regulation was held.

The meeting was attended by heads of commercial banks and insurance companies. The heads of local authorities of the oblast level participated in the meeting via video conferencing.

The key topic of the meeting was the issues of practical support and development of entrepreneurship in the country, in particular, the issues of financing and lending to businesses.

20 entrepreneurs were invited to the meeting, whose business suffered from the costs associated with the change in the exchange rate of foreign currency in relation to the national one during the liberalization of monetary policy.

Each entrepreneur voiced his case, which was reviewed in detail by the members of the Commission. For each problematic issue, specific solutions were developed and responsible executors were identified in the person of the heads of the relevant commercial banks and the timeframe for the implementation of the measures developed.

In order to improve the activities of enterprises, it was decided to assign the top executives of the Ministry of Investment and Foreign Trade to each entrepreneur for a period of one year. The task of these workers will be to "support" their activities and provide comprehensive practical support in resolving emerging issues.

Also, during the meeting, the entrepreneurs present had the opportunity to voice existing questions and proposals for improving the investment and business climate and supporting the development of entrepreneurship in the country.

Source: Ministry of Investments, Industry and Trade of the Republic of Uzbekistan