An agreement was signed between the Chamber of Commerce and Industry of Uzbekistan and Korea International Cooperation Agency (KOICA) to launch the project “Stimulating a business incubation system in Uzbekistan”.

On January 28, an agreement was signed between the Chamber of Commerce and Industry of Uzbekistan and Korea International Cooperation Agency (KOICA) to launch the project “Stimulating a business incubation system in Uzbekistan”.

The project worth 5.5 million USD is aimed at developing, based on Korean experience, a system of providing comprehensive assistance to entrepreneurs in implementation of their business projects.

Within the framework of the project, standard business incubators that provide entrepreneurs with the opportunity to receive practical assistance from qualified specialists in implementation of their business ideas will be created in Tashkent. Here proposals will be developed to improve the normative-legal framework in supporting future entrepreneurs, stimulating their activities, developing an innovative business ecosystem in Uzbekistan.

In the business incubator, special attention will be paid to the development of youth entrepreneurship. Through the organization of an educational practice in the Republic of Korea, young people, as well as specialists from agencies and organizations involved in the promotion of innovative business, will improve their skills.