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Uzbekistan plans to attract $2 billion by 2030. venture capital investments
By 2030, Uzbekistan plans to increase the number of startups to 5,000, which will allow the creation of at least 20,000 new jobs. This was announced on January 20 at a meeting chaired by President Shavkat Mirziyoyev.
It was noted at the event that in 2024–2025 the total value of the country’s startup and venture ecosystem reached $3.9 billion. There are more than 750 local startups, supported by 15 venture funds, while the total volume of venture capital exceeded $180 million. By 2030, this figure is planned to be increased to $2 billion.
A four-stage startup support system is being implemented in the country, covering the stages of idea, development, launch, and scaling. Grants, tax incentives, co-financing mechanisms, and compensation for export expenses are provided.
“We aim to ensure at least 500 startup projects valued at over $1 million, at least 100 startups worth more than $10 million, and at least 25 startups exceeding $100 million. The President instructed not to limit ourselves to decision-making, but to ensure broad promotion and popularization of these initiatives,” said Minister of Digital Technologies Sherzod Shermatov in an interview with the Uzbekistan 24 channel.
The minister also reported that the President had signed a law in the field of artificial intelligence aimed at preventing abuse in the use of AI technologies. “Previously, there were no clear basic definitions of what artificial intelligence is, how it works, and in which areas it can be applied, as well as no relevant legal framework,” Shermatov emphasized.
As part of expanding the application of AI, it is planned to establish laboratories at 15 leading universities in the country, where graduates will be able to obtain certificates as leaders in the field of artificial intelligence and possess at least one foreign language in a professional domain. At least 100 digital services will be added to the MyGov.uz portal.
The President instructed to introduce artificial intelligence technologies in more than 50 services, create a Unified Population Register, and fully digitalize the processes of opening a business, accounting for employees of individual entrepreneurs, issuing bank cards, obtaining SIM cards, as well as providing insurance and advertising services.
In addition, the head of state emphasized the need to expand the use of 5G technologies, high-speed internet, and satellite communications in the regions of the country.
These measures are intended to ensure comprehensive digitalization of the economy and create conditions for the large-scale development of innovative companies in Uzbekistan.
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