Tuesday, 25, June, 2024

On April 21, the President Shavkat Mirziyoyev signed a decree on the creation of youth industrial and entrepreneurial zones in all provinces of Uzbekistan.

The main tasks of youth industrial zones are to attract young people to entrepreneurship by providing them with production premises, serving as start-up incubators for, as well as establishing cooperation ties with large industrial enterprises.

It is expected that the first 77 youth industrial zones will be set up by September 1.

To finance youth projects, a Fund for Supporting Young Entrepreneurs will be set up at the Ministry of Investment and Foreign Trade. The Fund for Reconstruction and Development will contribute US$ 100 million to the Fund. Money will also be raised from other sources.

Investment projects at youth industrial zones will be selected by working groups created under the mayor’s offices. Land plots in zones up to 1000 sq. m will be allocated on an exceptional basis without electronic auction bidding on the basis of decisions of the councils of People's Deputies.

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