TASHKENT, Uzbekistan, December 21. Uzbekistan has earmarked $42 million in compensation for exporting enterprises' expenses and other rewards to boost exports from January through November 2023, Trend reports.
The remark was made by the Head of the Department of the Uzbek Export Promotion Agency Azimjon Akhmadzhanov during the briefing dedicated to the results of 2023.
Akhmadzhanov noted that in the eleven months of 2023, 658 exporting companies were compensated in the form of reimbursement of part of transportation costs.
“Exporting enterprises that obtained transportation expense reimbursement primarily exported fruit and vegetable products and other types of food products, textile, knitted, leather, and shoe products, medications, electrical equipment, and other things. The volume of exports, which were carried out with governmental assistance in the form of compensation for a portion of transportation costs, amounted to $1.1 billion in the first eleven months of 2023,” he said.
He noted that the Export Promotion Agency was instructed to increase the amount of compensation for transport costs from 50 percent to 70 percent due to an increase in transport and logistics costs in March 2022, as Uzbek exporters were forced to use other transport corridors amid a sharp change in the geopolitical situation in the world.
The state budget also reimbursed the costs of issuing 149,000 different certificates for fruit and vegetable products and other types of goods, allocating $2.6 million for the matter.
In addition, $9.3 million were allocated for the following types of support for Uzbek exporters:
260 companies were paid $3.1 million in compensation for insurance premiums when using the policy as export guarantees
236 enterprises were provided assistance in the amount of $2.9 million for implementing international production standards and entering foreign markets
Meanwhile, during the 2nd Turkic Agro Business Forum in Baku, Minister of Agriculture of Uzbekistan Aziz Voitov said that Uzbekistan is interested in attracting $50 billion of foreign investment in the agricultural sector of the country.
The minister noted that the textile industry, gardening, animal husbandry, seed production, and others are important and promising sectors in the agricultural sector of Uzbekistan.