BAKU, Azerbaijan, Mar. 4
By Klavdiya Romakayeva - Trend:
Uzbekistan plans to increase the exports of electrical products in value terms up to $450, Trend reports referring to Norma information and legal portal.
According to the resolution of the President of Uzbekistan on additional measures for the further development of the electrical industry and increasing the competitiveness of domestic products, will be taken to speed up the electrical technology industry and increase the production of electrical appliances by at least 30 percent by 2023.
Also, the resolution approved the program for the creation of new production facilities and diversification of production in the electrical industry in Uzbekistan in 2021–2022, according to which a total of 136 projects will be implemented and 9,657 jobs will be created.
In addition, it is planned to increase the production of electrical products in value terms up to 15 trillion soums ($1.4 billion) in 2021 and up to 19 trillion soums ($1.8 billion) in 2022.
At the same time, it is expected to increase exports of electrical products up to $450 million this year and up to $600 in the future.
Furthermore, Uzbekistan plans to allocate subsidies to cover 50 percent of the costs of transportation and export of electrical products, as well as to provide a guarantee upon receipt of guarantees from commercial banks.
As for electrical companies, income tax and property tax rates for them will be reduced by 50 percent. It was noted that electrical companies will also be able to purchase locally produced copper raw materials at a fixed price.
Moreover, according to the decree, 75 billion soums ($7.1 billion) will be allocated to the Electrotechnical Industry Development Fund in equal shares in the first, second, and third quarters of 2021.
Also, new technology parks specializing in the production of electrical products will be created in the Samarkand, Tashkent, and Fergana regions of Uzbekistan.
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