(MENAFN- Trend News Agency)
BAKU, Azerbaijan, July 5. Enterprises within
the Central Asian region to access a variety of financial services,
citing the Asian Development Bank (ADB).
This is envisioned in the strategy to promote digitalization in
Central Asia Regional Economic Cooperation (CAREC) Program member
The plan said that small and medium enterprises (SMEs)
perennially face high capital costs as a barrier to expansion.
'With the help of digital solutions, enterprises within the
CAREC region can access a variety of financial services. These
include online lending platforms where more favorable terms may be
available to e-payment providers. Digital platforms provide
vulnerable groups, including women, young people, and the elderly,
avenues to expand their economic opportunities,' the plan said.
In this regard, the plan said, Georgia has offered to share its
experience on SMEs solutions for e-commerce.
'Georgia's Innovation and Technology Agency (GITA) has also
proposed to help build a regional innovation and start-up
ecosystem, and host training and networking for start-ups from
across the region. Kazakhstan and the Kyrgyz Republic have also
proposed to host a regional hub for CAREC start-ups, while joint
incubation, acceleration, and training for start-ups were proposed
by information technology (IT) Park, Uzbekistan. To drive growth in
this area, CAREC countries can consider establishing a virtual
tax-free regional IT zone for start-ups, SMEs, and information and
communication technology (ICT) companies across the region,' the
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