Uzbekistan to grant use of UzAuto brand to new companies

Business Materials 10 July 2020 13:59 (UTC +04:00)

BAKU, Azerbaijan, July 10

By Ilkin Seyfaddini - Trend:

Uzavtosanoat will create new automotive manufacturing companies that will have the right to use the UzAuto brand, Trend reports with reference to the Ministry of Justice of Uzbekistan.

This is stated in the governmental resolution on measures to improve the effectiveness of agricultural engineering organizations from July 8, 2020.

In addition, under the resolution, the term for calculating and paying dividends on UzAuto shares in the amount of 30 percent of net profit from the beginning of 2019 through the end of 2020, excluding fines and penalties, has been determined.

Uzavtosanoat is the Uzbek holding company controlling automotive manufacturing enterprises of the large-unit assembly (SKD), UzAuto Motors, Samarkand Automobile Plant and MAN Auto-Uzbekistan. GM Uzbekistan changed its name to UzAutoMotors in July 2019.

In the period from January through April 2020, Uzbekistan produced 96,727 cars, which is 17,113 more than in the same period of 2019.


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