Baku, Azerbaijan, Dec. 5
By Nigar Guliyeva - Trend:
Uzbek President Shavkat Mirziyoyev by his decree has approved a regulation on the Fund for Support of Innovative Development and Innovative Ideas.
The Fund is part of the newly formed Ministry of Innovative Development of Uzbekistan and is the legal successor of the Foundation for Support and Development of Scientific and Technical Activities under the State Commission for Science and Technology to be abolished January 1 next year.
Sources of financing of the Fund for Support of Innovative Development and Innovative Ideas will be by 90 percent formed through foreign currency funds received by the Intellectual Property Agency of Uzbekistan as patent fees, premiums and other non-tax payments.
The Fund for Support of Innovative Development and Innovative Ideas will allocate financing for the same purposes as the Foundation for Support and Development of Scientific and Technical Activities did, with the addition of new directions: attraction of foreign scientists and specialists for carrying out the research on the basis of contracts concluded with them; organization and holding of annual trade fairs for innovations and new technologies; preparation of scientific results for international publication; material stimulation of employees of the Ministry of Innovative Development of Uzbekistan and the Executive Directorate of the Fund; financing, as well as material and technical support of the Center for Scientific and Technical Information and Publishing House of the Ministry.
The Fund is exempt from all types of taxes and payments, except for single social payment, as well as mandatory contributions to state trust funds.