TASHKENT, Uzbekistan, November 13. Uzbekistan will implement a specialized land tax for orchards and vineyards to incentivize productive gardening practices, Trend reports.
The issue was discussed on a meeting between Uzbekistan’s President Shavkat Mirziyoyev and representatives of the country’s agriculture sphere.
Additionally, loans for agricultural projects are set to see a significant extension in their repayment period. Currently ranging from 5-7 years, they will be increased to 15-year term.
To further enhance the efficiency of orchard and vineyard land use, district-specific working groups will be established, which will comprise software experts and tax authorities, tasked with conducting annual inventories, identifying and discontinuing benefits for underutilized land, as well as ensuring a more productive use of resources.
Meanwhile, during the 2nd Turkic Agro Business Forum in Azerbaijan's Baku, Minister of Agriculture of Uzbekistan Aziz Voitov said that Uzbekistan is interested in attracting $50 billion of foreign investment in the agricultural sector of the country.
The minister noted that the textile industry, gardening, animal husbandry, seed production, and others are important and promising sectors in the agricultural sector of Uzbekistan.