BAKU, Azerbaijan, June 14
By Klavdiya Romakayeva - Trend:
Funds in the amount of 400 billion soums ($37.8 million) will be allocated for the development of industrial infrastructure in specialized regions of Uzbekistan, Trend reports referring to Norma information and legal portal.
In accordance with the decree of the president of Uzbekistan on additional measures to increase the industrial potential of the regions, the Ministry of Investment and Foreign Trade should identify industries that are drivers for the development of local industry based on the attraction of available natural and economic resources, expand and deepen intra-sectoral and inter-sectoral cooperation ties, establish joint export of products, as well as create conditions for attracting private and foreign investment, as well as modern technologies that ensure production of high-quality and competitive products.
Also, from July 1, 2021, the procedure is established in accordance with which business entities implementing projects for the production of building materials are provided by the State Fund for the Support of Entrepreneurship with:
1) guarantees for bank loans issued as part of the implementation of investment projects, including for replenishment of working capital, up to 50 percent of the loan amount, but in an amount not exceeding 15 billion soums ($1.4 million);
2) compensation to cover interest expenses on loans issued to enterprises engaged in the production of building materials, in particular on loans in national currency (in an amount exceeding the base rate of the Central Bank, but not more than 10 percentage points) and in foreign currency (in the amount of 50 percent of the rate set by commercial banks, but not more than 4 percentage points);
3) compensation to cover the costs of purchasing test laboratory equipment and the implementation of international quality management standards.
The decree also approves specialization of 24 districts in the production of building materials, the composition of the Council for the Development of the Industry of Building Materials under the "Uzpromstroymaterialy" Association and creation of small industrial zones in order to implement projects for the production of building materials with the allocation of the necessary land plots in specialized areas, including with the participation of the investment company PSB Capital LLC under the JSCB Uzpromstroybank.
In addition, funds will be allocated in 2021 at the expense of those allocated for the socio-economic development of regions in the amount of 400 billion soums ($37.8 million) for the development of industrial infrastructure in specialized regions and 100 billion soums ($9.4 million) - for geological exploration.
---
Follow the author on Twitter: @romakayeva