Uzbekistan increases share of local raw materials in industrial production
Tashkent, Uzbekistan, Feb.12
By Demir Azizov- Trend:
Uzbekistan will implement the state programme on localisation of products. This means an increase of the share of local raw material in the production of finished products and components, in 2014-2016. This is with the calculated volumes of substitution of imported raw materials worth $15.2 billion, a representative of Uzbekistan's Economy Ministry told Trend citing the relevant decree of the country's president.
In total, 1600 projects have been included in the state programme for localisation for the next three years, according to the source.
About 70 percent of products considered for releasing under the localisation programme accounts for enterprises such as cars, oil and gas, the chemical and electrical industries, as well as the sphere of agricultural engineering.
A number of benefits under previous localisation programmes have been extended until Jan.1, 2017, for enterprises that implement projects of the approved localisation programme.
In particular, enterprises are exempt from customs duties for imported equipment and components used in technological process of the production of localised products.
In addition, products manufactured under the localisation projects are exempt from income tax and taxes for property in the sector of funds used for production of localised products.
It was earlier reported that the foreign trade turnover of Uzbekistan increased by 9.4 percent to $28.9 billion in 2013 compared to 2012 and exports grew by 10.9 percent to $15.1 billion with imports by 7.7 percent (to $ 13.8 billion).
Translated by L.Z.
Edited by S.M.