Leasing operations in Uzbekistan rose by over 35 percent in 2013
Tashkent, Uzbekistan, Feb. 13
By Demir Azizov - Trend:
The total volume of leasing operations in Uzbekistan in 2013 increased by 36 percent compared to 2012, up to 805.2 billion soums and the volume of the leasing market rose by 16.5 percent, up to 1.511 trillion soums, the Uzbekistan Lessors Association told Trend on Feb .13.
In late 2013, the share of leasing in the country's GDP was 0.7 percent compared to 0.6 percent a year earlier, the specific weight of the leasing portfolio in GDP remained at the previous year's level of 1.3 percent and the specific weight of leasing transactions in investments to the main capital increased by 0.1 percent to 2.8 percent.
In total, last year Uzbek lessors concluded 6700 transactions versus 7000 transactions a year earlier.
In 2013 agricultural equipment prevailed amongst the leased property. The agricultural equipment's share in total transactions stood at 37.5 percent compared to 33.1 percent in 2012.
Among all the leased properties, motor vehicle leasing deals stood at 24.8 percent, technological equipment at 21.4 percent and the real estate and property complex was at 16.3 percent.
In all the leasing deals on technological equipment in 2013, the major place belonged to construction machinery and equipment for building material manufacturing (35.4 percent), land reclamation equipment (22.9 percent) and equipment for light industry (12.8 percent).
In 2013, some 99 lessors operated in the country's leasing market, including 24 commercial banks and 75 leasing companies.
The major leasing companies on the market last year were: Uzselhozmashlizing (271.5 billion soums), Uzavtopromlizing (65.9 billion soums), Uzmeliomashlizing (38.5 billion soums), Uzbek Leasing International J.V. (36.2 billion soums) and the Artum Leasing Group (20.9 billion soums).
The most active commercial banks in leasing services included the State joint-stock commercial bank Asaka (65 billion soums), joint-stock commercial bank Ipoteka (32.3 billion soums), the Rural Construction Bank (20.3 billion soums), open joint-stock commercial bank Mikrocreditbank (16.2 billion soums) and Uzpromstroybank (15.9 billion soums).
Uzbekistan abolished customs duties during the import of modern technological equipment on leasing terms and the lease payments are exempt from VAT with the lessees released from taxes on leased property.
The official exchange rate on February 13 is 2215.99 soums/$ 1.
Translated by E.A.
Edited by S.M.