The economic significance of private small and medium-sized enterprises (SMEs) for the Uzbek economy is still very limited. In the past, the state has primarily promoted private small enterprises with tax concessions and subsidised loans, but the government has now set itself the goal of increasing the importance of the private SME sector.
In order to achieve this, policymakers should in the future also promote the development of an industrial, export-oriented private middle-sized enterprise sector, in addition to the socio-politically motivated promotion of start-ups and micro-enterprises. To this end, the regulatory frameworks should be created and efficient promotional instruments put in place. Uzbekistan can build on international best practice in this regard.