Uzbekistan plans to transfer pension savings to investment companies

The government of Uzbekistan intends to change the approach to providing agricultural subsidies and developing the insurance system. As reported by the press service of the President of Uzbekistan, President Shavkat Mirziyoyev reviewed proposals aimed at linking state support to specific results, expanding insurance coverage, and further digitizing the agricultural sector.

Currently, in 2026, 29 regions receive subsidies, with 91 types of subsidies existing. A total of 2.7 trillion soms has been allocated for financing these programs. Some applications are already being submitted proactively, and payment deadlines have been shortened.

The proposed changes involve a gradual move away from the current model of simple fund distribution and the introduction of a 'results-based subsidy' system starting in 2027. According to this concept, the volume and provision of support will depend on crop yield, water and energy savings, as well as the volume of production per unit of resources used.

Information for assessing achieved results will be automatically collected from state information systems. An electronic profile will be created for each subsidy recipient, and the use of allocated funds will be monitored online. The first area for testing the new model will be the implementation of water-saving technologies. After two to three years of receiving the subsidy, water consumption, yield, and efficiency of its use will be evaluated; if established indicators are not met, the funds must be returned.

Specific proposals concern the improvement of agricultural insurance. A significant part of the procedures has already been digitized through the Agrosafe system, including application submission, contract signing, monitoring, assessment, and payment of insurance compensation. It is also planned to expand the list of insured objects and risks. The system should include seedlings and trees in orchards and vineyards, imported livestock, as well as risks associated with accidents. Furthermore, new insurance products are planned for animal husbandry, as well as for growing melons, pumpkins, potatoes, and onions.

For 2027, the authorities have set a goal to provide insurance coverage for 45,000 agricultural enterprises and increase the share of insured agricultural products to 60%. Training 500 independent experts and the complete digitalization of insurance services are also planned. The new system aims to shift the focus from compensating already incurred losses to preventing damage. To achieve this, it is proposed to allocate 3-5% of insurance premiums to a special fund. These funds will be used for vaccination, preventive, and veterinary measures in animal husbandry, biological protection of cotton and grain crops, as well as for installing disaster protection systems in orchards and vineyards.

Shavkat Mirziyoyev emphasized the need to simplify and improve the convenience of obtaining subsidies and insurance services for farmers. Special attention is paid to reducing human involvement in processes, ensuring transparency, objective assessment of insurance claims, and timely payment of compensation. Responsible agencies have been instructed to refine these proposals and prepare draft regulatory and legal acts.