Over $190bn to be allocated in benefits to entrepreneurs in Uzbekistan

Several benefits were announced to be given to entrepreneurs at the video selector meeting held on March 23 under the leadership of Uzbek president Shavkat Mirziyoyev. 

It is reported that there is demand for about 11,000 machines and aggregates in the farming sector. Therefore, from April 1, a 15 percent subsidy is set to be provided for purchasing all locally produced equipment. Furthermore, imported equipment is exempted from customs duty and disposal fees for three years, and deferred payment of value-added tax is allowed. In addition, 10 percent of loans will be allocated to purchase equipment for ten years. Responsible parties were assigned to finance it.

The Ministry of Investments, Industry, and Trade was tasked with increasing the number of projects to produce 25 types of commonly imported food products. Instructions on creating favorable conditions for farmers and entrepreneurs using economic means were given. Industry leaders and regional business people shared their opinions on the current issues and discussed them at the meeting.