Young entrepreneurs’ ranks growing

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October 3, 2016

Young entrepreneurs’ ranks growing


The republican stage of the “Young entrepreneurs are the country’s supporters” contest has taken place in the “Kamolot” youth recreational facility in Bostonliq District of Tashkent Region. 

The contest was arranged by the central council of the Kamolot public youth movement in cooperation with the Commerce and Industry Chamber of Uzbekistan, commercial banks and a number of organizations. 140 young people aged between 18 and 30 participated in the contest with their business projects in such areas as industry, production, agriculture and services.

Special attention is being paid in the country to developing small business and private entrepreneurship, supporting young people’s initiative and endeavour in this sphere and financing their business projects.

A resolution dated 6 February 2014 of the country’s First President Islam Karimov “On additional measures directed towards implementing the state youth policy of the Republic of Uzbekistan” is an important programme document in this area.

“Such events serve to widely attract young people to entrepreneurship, to create new jobs for them, to develop small business and private entrepreneurship and to maintain the country’s high economic growth rate. The number of young people interested in the contest is rising with every passing year. This year more than 12 thousand young people submitted applications to participate in this project. And nearly 2 thousand of them attended three-day training seminars arranged at territorial stages on such important topics as laws on support for entrepreneurship and the use of bank credits in the drawing up and implementation of business projects,” says the chairman of the socio-economic project department of the central council of the Kamolot public youth movement, F.Ablayorov.

This five-day training seminar held as part of the republican stage of the contest was also fruitful and impressive. Experienced trainers and specialists of commercial banks and other partner organizations conducted more than 10 training sessions on such topics as “Choosing a legal status for a small business”, “Norm-setting legal documents regulating business”, “Small business technologies, finding, acquiring and bringing them in” and “Possibilities of the Commerce and Industry Chamber to help small business”. Every participant further improved their business project on the basis of knowledge and experienced gained at the training seminars.

During the seminar, the “Guarantees from Kamolot” project was also implemented. In this project, 14 young people who needed collateral for obtaining a credit were given documents granting guaranteed insurance policies.

50 of the contest’s participants were declared the winner and were given the privilege of the Kamolot public youth movement central council providing finance to cover the interest of their future credits from commercial banks.

“I participated in the contest with my business project on industry, and I am glad about winning the contest. We want to further expand our work on the basis of knowledge gained during the training seminar. For this purpose we will use preferential credits from commercial banks,” says a first-year student of the Termiz state university. R.Shoymardonov.

Also, 5 participants in the contest were given awards in such nominations as “The development of rural areas’ services sphere”, “The best innovative project”, “young entrepreneur who created the largest number of jobs”, “Project directed towards social entrepreneurship” and “Project oriented towards developing women’s entrepreneurship”.