In Uzbekistan, confectionery enterprises will receive financial support

In Uzbekistan, confectionery enterprises will receive financial support

Financial assistance for confectionery enterprises will be implemented in accordance with the Presidential Decree dated November 21, 2023, No. UP-198, which approves additional measures to enhance the quality and competitiveness of products in certain industrial sectors.

To finance export and pre-export operations, confectionery producers will receive financial resources from the Export Support Fund for a period of up to 2 years, depending on the export volume over the last 12 months:

  • Up to $1 million – for export volumes up to $500 thousand;
  • Up to $2 million – for export volumes from $500 thousand to $4 million;
  • Up to $3 million – for export volumes exceeding $4 million.

Until January 1, 2025, the following measures are envisaged:

  • Exemption from customs duties for packaging and labeling products used in the production of a diverse range of confectionery products.
  • Reimbursement of 50% of transportation expenses for the import of cotton and artificial fibers for yarn producers (excluding imports from neighboring countries) funded by the Export Promotion Agency.

Additional measures include:

  • From December 1 to December 31, 2024, a fivefold reduction in the current fee imposed on yarn exports, amounting to $0.01 per kilogram.
  • The right to pay a 1% social tax and a deferred payment of the property tax for up to three years is granted to enterprises whose revenue from the sale of dyed fabrics and cloth accounts for at least 50% on the domestic market.
  • Until October 1, 2026, certain goods necessary for the activities of textile and knitwear enterprises are exempted from customs duties when imported.
  • The payment deferment period for leasing land, buildings, and structures in industrial zones is extended from 12 to 24 months.
Uzbekistan
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