TASHKENT, Uzbekistan, February 17. Uzbekistan will allocate financial resources to food exporting enterprises from March 1, 2024, Trend reports.
Financial resources will be allocated for up to 2 years from the resources of the Export Support Fund, depending on the volume of exports over the last 12 months:
In case of export volume from $100,000 to $1 million - up to $100,000;
In case of export volume from $1 million to $2 million - up to $1 million;
In case of export volume from $2 million to $4 million - up to $2 million;
In case of export volume from $4 million - up to $3 million.
This is stated in the decree signed by the President of Uzbekistan Shavkat Mirziyoyev "On additional measures to ensure food security in the country".
In accordance with the decree, industrial enterprises processing food products and exporters of trade houses are allowed to transfer funds up to $50,000 per year to foreign accounts without making separate decisions.
Also, funds in the amount of $220 million from international financial institutions will be allocated to commercial banks until March 1, 2024.
Commercial banks are granted soft loans at an annual rate exceeding the Central Bank's prime rate by 4 percentage points (including the bank's margin of 4 percent), in local currency:
To finance projects in the food sector aimed at creating a value-added chain in the sphere (starting from production of products to their delivery to the consumer) soft loans will be granted for a term of 10 years with a grace period of 3 years;
For working capital soft loans will be granted for a term of 18 months with a grace period of 6 months.
Meanwhile, according to the law "On State Duty", Uzbekistan will reduce the rate of duty for registering a company with foreign investment 10 times - from 3.4 million to 340,000 soums (from $276 to $27).