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Uzbekistan’s exporters to receive pre-export financing

Uzbekistan Materials 15 January 2021 12:06
Uzbekistan’s exporters to receive pre-export financing

BAKU, Azerbaijan, Jan. 15

By Klavdiya Romakayeva - Trend:

President of Uzbekistan Shavkat Mirziyoyev approved new measures to support exporters, Trend reports referring to national database portal of legislation of Uzbekistan.

According to the resolution approved by the president of Uzbekistan, regional export headquarters will be created in the territorial divisions of the Ministry of Investment and Foreign Trade.

It was noted that the headquarters will help exporters according to the principle “from production to foreign consumer”.

In addition, this year $100 million will be allocated from the Export Support Fund, including for the purchase of raw materials. Starting from February 1, exporters will be able to receive pre-export financing from these funds.

Moreover, 50 percent of the expenses of exporters for the maintenance of trading houses, renting offices, retail and warehouse premises and advertising abroad will be compensated by the Export Promotion Agency starting from April 1.

It is reported that the exact procedure for receiving compensation will be approved later.

Earlier, President of Uzbekistan pointed out the importance of introducing from January 1, 2021, a new system for the implementation of projects financed by loans from international financial institutions, conducting appropriate training for managers and employees of project offices for effective development and ensuring the effectiveness of funds for each project.

It was noted that Uzbekistan plans to attract more than $7.5 billion of direct foreign investment this year. In addition, it is expected that exports this year will amount to around $17 billion.

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