Uzbekistan has announced a raft of new measures to support entrepreneurs, including a plan to allow businesses to be registered within 15 minutes from 2026, as President Shavkat Mirziyoyev seeks to accelerate private-sector growth and attract foreign investment.

Speaking at an open dialogue with business leaders in New Tashkent on August 20, the president congratulated entrepreneurs on their professional holiday and the 34th anniversary of independence, noting their “significant contribution to changes in every sector, every region and every neighbourhood”.

Over the past eight years, Uzbekistan has received $230bn in investment, more than $120bn of which came from abroad. In the first half of 2025 alone, the economy expanded by 7.2%.

Business activity has also grown. “As a result of the convenience of doing business, the number of entrepreneurs is increasing and their activities are expanding,” Mirziyoyev said. 

The president highlighted that 1,600 micro enterprises had scaled up to medium-sized companies within a year, while 143 became large enterprises after surpassing turnovers of more than UZS100bn ($7.9mn).

Job creation has been another focus. According to official figures, jobs in 139,000 enterprises increased by 811,000, while payrolls in 273,000 companies rose by 22%. 

Average monthly salaries in the private sector now stand at nearly UZS5mn, up from UZS 4mn in 2024.

Additionally, Mirziyoyev announced major initiatives in the services sector, particularly tourism, which he described as “one of the most effective areas for creating jobs in the short term and quickly generating income.”

A new programme will make 5,000 hectares of land available for hotel and tourist infrastructure development over the next three years. 

Land will be provided to entrepreneurs at no upfront cost, with the state becoming a shareholder in the projects. Investors can later buy back the state’s share within 10 years, or receive a 20% discount for upfront payments.

Other measures include seven-year loans with a two-year grace period for hotel construction, subsidies for converting existing buildings into hotels and exemptions from tourist tax for hotels outside Tashkent and other major centres.

Mirziyoyev also proposed doubling the current limit of 10 tourists per day at family guesthouses and announced a $1mn annual competition to reward hotels and guesthouses that earn the highest recognition on international platforms.

Large resort zones with year-round services will be developed in Karabakh (Chartok), Chimyon (Fergana), Omonkhona (Boysun) and Nurbulak (Nurabad). 

More than UZS1 trillion have been allocated for the intensive development of 16 districts this year, with a further $500mn earmarked for future expansion.

In education, private entrepreneurs will be encouraged to build kindergartens in underserved districts. Land will be provided rent-free for 30 years, while operators will receive subsidies covering half the cost per child in public kindergartens, as well as preferential loans and a reduced social tax of 1%.

Healthcare entrepreneurs establishing medical clusters will be eligible for loans at 17% interest over seven years, with a three-year grace period.

Financial reforms will centre on expanding access to credit and investment platforms. 

“The most important instrument for supporting business is financial services,” Mirziyoyev said, announcing a new platform expected to channel an additional $1bn annually into private projects.

Uzbekistan’s startup sector is also expanding rapidly. More than 600 startups are active in the country, having raised $264mn in foreign investment in the first seven months of 2025. 

The government plans to commercialise 1,000 new ideas, take 200 ventures to international markets and transform 100 startups into globally competitive businesses, backed by a $100mn fund.

A Young Entrepreneurs championship will also be introduced this year, offering up to UZS1bn to the 100 best startup ideas.

Banks will play a central role in small business financing, with $1bn in new lending expected next year under simplified scoring systems. A five-year digital finance strategy will also be adopted, including the rollout of “open banking.”

Furthermore, the government pledged to ease tax burdens for entrepreneurs. Enterprises with turnover up to UZS20bn will now be exempt from advance profit tax payments, freeing up UZS1 trillion in working capital for about 14,000 companies.

Businesses shifting from turnover tax to VAT will be exempt from profit tax for one year, face no penalties for reporting errors and qualify for deductions of up to UZS5mn per accountant’s salary for six months.

To reduce bureaucracy, tax authorities will assume responsibility for preparing reports on land, property, social and income taxes from next year. Entrepreneurs will have five days to make corrections.

On investment, Mirziyoyev proposed adopting a new Investment Code to consolidate regulations on venture capital, bonds, crowdfunding and startups into a single framework.

The most striking reform is the introduction of the “Starting a Business in 15 Minutes” principle from 2026. Under the system, new entrepreneurs will automatically receive an electronic digital signature, a bank account and notifications to relevant state bodies at the time of registration.

The government also pledged to align its technical regulations with international standards by reducing mandatory certification lists and shifting to product-focused compliance rather than entrepreneur-focused inspections.

“These are great goals, which can be achieved with the current entrepreneurial spirit in our country,” Mirziyoyev said.

The event, the fifth such dialogue, concluded with entrepreneurs from across the regions raising concerns and proposals via live studio links. 

More than 13,000 appeals were submitted to a dedicated call centre in preparation for the meeting.