Uzbek president approves five investment projects in silk industry
Tashkent, Uzbekistan, Jan. 14
By Mammad Dashdemirov – Trend:
Uzbek President Shavkat Mirziyoyev signed ‘Resolution on measures to further develop the silk industry’, the Uzbekipaksanoat association told Trend.
According to the document, in particular, five investment projects worth $26 million were approved to organize the production of raw silk, silk wool and fabric.
The production of raw silk will be increased by 672,000 tons, silk wool - by 243,000 tons, silk fabrics - more than 2.5 million running meters as a result of the implementation of these projects in 2018-2021.
The projects will be financed through concessional loans issued by commercial banks at the refinancing rate, which is currently 14 percent per annum.
The members of the association are exempt from customs payments for import of equipment, machinery, raw materials, which are not produced in the country, as well as land tax until January 1, 2023.