SMEs Development in Uzbekistan, Perspectives and Transition Experiences from the USA, Japan and the EU

One of the significant characteristics of a flourishing and growing economy is a booming and blooming small and medium enterprises (SMEs) sector. SMEs contribute to economic development in various ways: by creating employment for rural and urban growing labor force, providing desirable sustainability and innovation in the economy as a whole. In addition to that, a large number of people rely on the SMEs directly or indirectly.

SMEs play pivotal role in the economy of the Republic of Uzbekistan. Today the main goal is –to implement measures on modernization, technical and technological re-equipment of the SMEs, arrangement of output of the competitive products in correspondence with the world market standards. There are a number of factors responsible for the importance of SMEs in Uzbekistan. Firstly, SMEs bolster an entrepreneurial spirit and put forward suppleness in the economy. Secondly, SMEs emanate the fastest growing export sub-sectors, such as cotton weaving and surgical instruments. Thirdly, they can support the poverty alleviation endeavors through employment generation process. Above all, SMEs are more efficient in resource allocation as compare to that of large scale industry from a social point of view. They provide and facilitate the more number of people as compare to that of large scale industry.
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SMEs Development in Uzbekistan, Perspectives and Transition Experiences from the USA, Japan and the EU

One of the significant characteristics of a flourishing and growing economy is a booming and blooming small and medium enterprises (SMEs) sector. SMEs contribute to economic development in various ways: by creating employment for rural and urban growing labor force, providing desirable sustainability and innovation in the economy as a whole. In addition to that, a large number of people rely on the SMEs directly or indirectly.

SMEs play pivotal role in the economy of the Republic of Uzbekistan. Today the main goal is –to implement measures on modernization, technical and technological re-equipment of the SMEs, arrangement of output of the competitive products in correspondence with the world market standards. There are a number of factors responsible for the importance of SMEs in Uzbekistan. Firstly, SMEs bolster an entrepreneurial spirit and put forward suppleness in the economy. Secondly, SMEs emanate the fastest growing export sub-sectors, such as cotton weaving and surgical instruments. Thirdly, they can support the poverty alleviation endeavors through employment generation process. Above all, SMEs are more efficient in resource allocation as compare to that of large scale industry from a social point of view. They provide and facilitate the more number of people as compare to that of large scale industry.
 
 
 
 
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