TASHKENT, Uzbekistan, January 16. Uzbekistan will establish a separate factoring organization to provide exporters with working capital, with a funding allocation of $100 million, Trend reports.
This was revealed at a videoconference chaired by the President of Uzbekistan Shavkat Mirziyoyev on key investment issues.
Additionally, part of the costs for bringing products in line with international certifications will be covered, up to $20,000.
Lab equipment imported for research and development centers will be exempt from customs duties. A total of $2 million will be allocated to promote local products through international marketplaces.
Responsible authorities have been tasked with analyzing the external market potential of each industry and developing a three-year export strategy.
Meanwhile, Uzbekistan will establish a new export-oriented economic zone in Namangan, focusing on the textile industry. This decision comes as part of Uzbekistan’s strategy to enhance its manufacturing capabilities and expand exports.