Entrepreneurs interested in opening private schools in Uzbekistan will be eligible for loans of up to $1.6 million, as announced by President Shavkat Mirziyoyev on September 30 during a meeting with educational sector representatives in honor of Teacher’s Day, celebrated on October 1.
For these business owners, a portion of the interest rate exceeding 1.5 times the base rate on school loans will be subsidized by the government. Additionally, 50% of utility costs for constructing new private educational facilities will be covered. Entrepreneurs who fund the construction of schools themselves will be able to deduct these expenses from their profit taxes, spread evenly over two years.
In 2024, the government will allocate $254 million to reconstruct and build 375 schools and 97 kindergartens. Over the next four years, with $50 million in funding from the Islamic Development Bank and the OPEC Fund, 200 private kindergartens will be built, creating 30,000 new preschool places.
Since 2017, more than $17 billion has been invested in Uzbekistan’s education system. The number of private schools has risen from 27 to 500, and the number of non-state kindergartens has grown from 250 to 30,000.
Significance for furniture suppliers in the education sector
This wave of new school and kindergarten construction represents a major opportunity for furniture suppliers, particularly those focused on educational furniture. The planned expansion of both private and public educational facilities, driven by large-scale government and international funding, will significantly increase demand for classroom furnishings, seating, desks, and other interior elements essential for educational environments. With private schools being a key focus, suppliers offering modern, innovative designs that align with the needs of high-quality educational institutions may find substantial business growth in Uzbekistan’s rapidly developing education sector.
