Uzbekistan expands support for youth entrepreneurs with new fund

Uzbekistan will establish a State Trust Fund for the Development of Youth Entrepreneurship, as outlined in a Presidential Decree signed on February 14. The decree, titled “On measures to improve the system of support for business projects aimed at ensuring youth entrepreneurship and employment,” aims to expand opportunities for young entrepreneurs and increase youth employment.

The new fund will be created under the Youth Affairs Agency, replacing the existing Fund for the Support of Young Entrepreneurs. The government has allocated the equivalent of $100 million for its operations. A key performance indicator for the fund will be ensuring employment and helping at least 50,000 young people start their businesses.

To facilitate youth entrepreneurship, land plots will be allocated for business, entertainment, and recreational projects along riverbanks, canals, and coastal areas. These plots will be made available through electronic online auctions.

Additionally, a venture fund will be established under the new entity, with an initial charter capital of $10 million. This fund will focus on financing promising startup projects led by young entrepreneurs, providing them with essential support for business development.

The launch of this fund follows another recent initiative: the establishment of a Research Support Fund under the Coordinating Council for the Organization of Analytical and Research Structures. This initiative was introduced in a Presidential Resolution on February 10, aiming to enhance research and analytical capabilities in the country.

With these measures, Uzbekistan is strengthening its commitment to fostering youth entrepreneurship, innovation, and employment opportunities.