Uzbekistan implements projects for the production of electrical products for US$559 million
Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev signed a resolution “On additional measures to create favorable conditions for the further development of the electrical industry and increase the investment and export potential of the industry”.
According to the document, from 1 July 2019, when making public purchases of electrical and electrical household products, price preferences of up to 20% are applied to domestic enterprises. Enterprises of the industry are granted a new term for receiving money under export contracts. Now, they must receive export earnings within 180 days.
Also now, the enterprises of the electrical industry must have imported equipment within 270 days. Earlier this period was 90 days. Until 1 January 2022, the head of Uzbekistan exempted enterprises, which are part of the Uzelehsanoat association from paying customs duties for raw materials, materials, components and equipment imported for their production needs, which are not made in Uzbekistan.
According to the document, Uzbekistan plans to increase the processing of copper from 15,000 to 55,000 tons by 2021. The production of household appliances will increase by 3 times. The resolution envisages the implementation of 71 promising projects for the production of electrical products in 2019-2021 in the amount of US$559 million. The volume of foreign direct investment will be US$137 million.
Also the document approved a list of products recommended for localization and expansion of production in the electrical industry in 2019-2021. The list includes more than 40 types of products. Uzbekistan plans by 2022 to master the production of 15 types of new technological products.
The volume of production will double, to 15 trillion soums, and exports four times to US$500 million. The President ordered to create the Electrotechnical Industry Development Fund. The fund will support the activities of enterprises in the industry and in attracting modern foreign technologies.