Women entrepreneurship opportunities discussed in the Senate

Women entrepreneurship opportunities discussed in the Senate

The legislation of the Republic of Uzbekistan guarantees equal rights for women in their participation in political, social and economic activities of the country. Uzbekistan has built a system to defend women’s rights doing business and provide necessary consultancy and support.

The government of Uzbekistan places great emphasis on supporting women’s entrepreneurship. Particularly, within poverty reduction program actions are being taken to develop family entrepreneurship, employment, support for women’s and youth initiatives.

100 billion soums are allocated in 2020 from Anti-Crisis Fund under the Ministry of Finance to address poverty in the country.

A number of projects in the area of small business and entrepreneurship totaling 700 million dollars are planned implement along with the United Nations, World Bank Group and other international organizations.

COVID-19 had its impact on 196 thousand businesses that had to cut the production process, causing unemployment.

At times of pandemic 141 thousand 800 hundred jobless people received employment with the help of Employment Assistance Fund and Public Works Fund. The two issued 43 billion 225 million soums salary payment.

Systematic approach to supporting local women's entrepreneurship is an important factor in achieving significant results in the area.

In 2019 only, more than 170 thousand women received jobs. More than 172 thousand got loans amounting 4,9 trillion soums from commercial banks and Public Fund for Support to Women and Families.

21,500 women were trained in short-term professional courses within “The Five Main Initiatives”. Thanks to such opportunities, the number of women who started their business during the year increased by almost 45 thousand; they organized thousands of new jobs.

In 2020, despite the coronavirus pandemic, 2 thousand 744 women set up 4 thousand 167 workplaces.

This year, commercial banks allocated 586 billion 126 million soums loans to 426 women. In the regions, 1,448 women were provided with employment through handcrafting on the basis of the “Mentor-Pupil” system, 301 women - by engaging in home-based work.

Despite this, there are still many issues that need to be addressed. Among them are raising the level of awareness of women about the opportunities available in the country in terms of starting a business, high interest rates on loans, increasing women’s knowledge in the field of entrepreneurship, and eliminating some of the barriers to establishing small businesses.