Tashkent hosted the meeting of the Association of Lessors of Uzbekistan, devoted to the results of the leasing sector of the country in the first half of this year.

During the event, participants summed up the results of the leasing market during the identified period. They discussed future challenges and priorities for the development of this sector in our country.

Experts note that leasing is an efficient mechanism for investing into the modernization of production capacities of small businesses, the expansion of private enterprise. Uzbekistan has achieved significant success in this direction. Over the past nine years, the total amount of leased equipment increased more than 9 times. Such dynamic development of leasing in the country is explained by the presence of tax incentives, and high interest of small businesses and enterprises.

Nowadays, 87 lessors operate in Uzbekistan. They are 23 banks, 46 leasing companies and 18 other entities. During the first half of 2012 more than 2.5 thousand transactions totaling more than 252 billion soums ( were signed in the leasing market of the country. The total volume of leasing transactions for the reporting period exceeded 1.37 trillion soums and increased by more than 12% over the same period of last year.

It was noted during the event that agricultural equipments are the most leased objects in the country. Their share in the total leasing transactions of the first half of this year amounted to 35.5%. The technological equipment stays a little bit behind - 31.9% of all transactions. Leased vehicles make 23.4%, real estate and property complex - 9.2%.

According to experts, the Program of Leasing Services Development in Uzbekistan for 2012-2016 will become the new stage of the development. It pays particular attention to the development of leasing service, which should ensure that farmers and entrepreneurs get convenient mechanisms for acquiring mini-technologies and modern equipment. (Source: Uzbekistan Today newspaper)