Confectionery enterprises that have demonstrated a strong export performance over the past 12 months will be eligible for state financial assistance of up to $4 mn, depending on their export volume. The support, allocated for two years, is structured as follows:
- Enterprises with an export volume of up to $500,000 will receive up to $1 mn.
- Those with an export volume between $500,000 and $4 mn will receive up to $2 mn.
- Enterprises with an export volume exceeding $4 mn will receive $3 mn.
Until January 1, 2025, certain materials used in the packaging and production of labels for a range of confectionery products will be exempt from customs duties.
The textile industry, one of the leading and dynamically developing sectors of the Uzbek economy, will also benefit from this decree. Until December 31, 2024, the current fee charged for the export of yarn will be reduced five-fold. Enterprises that sell at least 50% of their dyed fabric on the domestic market will be eligible to pay social tax at a rate of 1% and receive a deferral of property tax for up to three years. Imports of certain commodities necessary for the operation of textile and knitting enterprises will be exempt from duties until October 1, 2026.
The instalment period for the lease of land and buildings in industrial zones will be extended from the current 12 months to 24 months. These measures are expected to further stimulate the growth of these industries, which have been showing positive trends. The textile industry accounted for 11.4% of the country’s total industrial production in 2020.
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