Uzbekistan is set to up the ante by boosting the share of SMEs in the economy to a whopping 55 percent, which is expected to rake in $70 billion in added value, Trend reports.

The news follows a meeting between President of Uzbekistan Shavkat Mirziyoyev and small and medium-sized enterprises (SMEs).

Uzbekistan is also focused on expanding SME exports by addressing transportation, certification, and standardization issues, with the goal of raising exports from $9 billion to $12 billion.

Additionally, the president highlighted the importance of strengthening SME participation in key sectors such as water supply, sanitation, road construction, utilities, logistics, recycling, migration, culture, and social services. The plan aims to triple SME involvement in these industries. Employment remains a priority, with a target of creating 1.5 million permanent jobs and increasing the employment rate in the SME sector to 75 percent.