On January 4 this year, Deputy Prime Minister of the Republic of Uzbekistan S. Umurzakov met with the young population of the Republic of Karakalpakstan in Nukus.

Inclusive dialogue with young entrepreneurs, students, and social activists provided comprehensive discussion of pressing concerns touching upon the development and activities of youth in the region, ensuring their employment and disclosing their intellectual and creative potential.

The dialogue touched upon modern trends in the development of the economy, industry and technology. These emphasized the role of digitalization and the widespread introduction of information technologies, as well as the use of innovative solutions in various areas.

The attendees paid a particular attention to the need to develop effective tool to increase the employment of the young population in small settlements and the development of public infrastructure for young people in rural areas.

They considered the measures to expand the activities of youth organizations involving youth in the development of areas and implementation of socially and economically significant projects. They emphasized the significance of stimulation of scientific, technical and artistic creativity, as well as development of business skills and project work experience in the young population.

In view of this, the attendees emphasized the Project Factory significance being an effective tool to translate challenging ideas into specific well-developed investment proposals.

The attendees heard about the measures implemented and new mechanisms supporting youth entrepreneurship. Accordingly, they heard that the Chief of State instructed to create a special fund under the Ministry of Investment and Foreign Trade to finance innovative ideas and projects of youth in the near future, which initially will receive USD 100 million. The fund will cover the youth projects at low interest rates and on favorable terms. Besides, the attendees considered the initiative to create 'youth small industrial zones' in the regions of the Republic, including the construction of separate facilities, buildings, and structures, which will be provided to young entrepreneurs under preferential lease and leasing terms for investment projects.

In turn, the attendees were able to voice their ideas to improve conditions for the development of young people and their involvement in industrial and social activities. Constructive suggestions were adopted, and the meeting resulted in targeted instructions to the heads of relevant ministries and departments to ensure comprehensive support in their implementation.