Uzbekistan Quality Job Creation as a Cornerstone for Sustainable Economic Growth

Private Sector Development and Access to Finance
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The leasing market has considerable potential as a nonbank financing option 
for SMEs. Uzbekistan’s leasing market has been growing rapidly. Total leasing 
transactions amounted to SUM780 billion ($99 million) in the first half of 
2018, a 9.7% increase from the same period of 2017 (Figure 4.20a). More than 
70% of the customers are small businesses with strong demands for leasing. 
The leasing business is concentrated in Tashkent city, which accounted for 
31% of total leasing operations in the first half of 2018 (Figure 4.20b). Major 
lease-financed products are agricultural machinery, vehicles, real estate and 
property complexes, and technological equipment, through hire-purchase 
arrangements (Figure 4.20c). As of October 2018, 130 leasing companies were 
active, 80% of which were private sector companies. 
For figures b and c, share of total leasing operations; data for the first half of 2018.
Sources: Uzbekistan Lessors Association (2018) and data received from Asaka Trans Leasing on 5 October 
2018. 
Figure 4.20: Leasing Market, Uzbekistan, 2012–2018
a. Values and Transaction
2.8
4.0
5.4
3.4
12.2
1.7
4.7
4.8
9.2
4.7
7.0
6.4
2.7
30.9
b. By Area
c. By Type
Karakalpakstan
Andijan
Bukhara
Jizzak
Kashkadarya
Navoi
Namangan
Samarkand
Surkhandarya
Sirdariya
Tashkent (region)
Fergana
Khorezm
Tashkent (city)
Technological
equipment
Agricultural
machinery
Real estate/
property complex
Vehicles
SUM billion
Number ‘000
Total leasing transactions
Number of transactions
31%
33%
14%
22%
0
1
2
3
4
5
6
7
8
9
0
200
400
600
800
1,000
1,200
1,400
1,600
2012
2013
2014
2015
2016
2017
1st half
2018

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