The authorities of Uzbekistan have provided new benefits for the textile industry

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The authorities of Uzbekistan have provided new benefits for the textile industry

Shavkat Mirziyoyev approved new measures to support the textile industry. This became known during a meeting held the day before, which was chaired by the head of state.

The President said that he had signed a decree according to which a new system for supporting textile, dyeing and clothing production would be created in the country. In particular:

enterprises that sell at least 50 percent of dyed fabrics to the domestic market pay social tax at a rate of 1 percent
they are allowed to pay property taxes in installments over 3 years
until January 1, 2025, 50 percent of transport costs for the import of cotton and artificial fiber will be compensated
technological equipment and spare parts imported by textile and sewing and knitting enterprises are exempt from customs duties.

It should be noted that the implementation of two large projects in the textile industry has recently started in the country. This is the organization of the production and dyeing of fabrics worth 350 million dollars in the Yukorichirchik district of the Tashkent region, as well as the production of artificial threads, fabrics and their dyeing for 60 million dollars in Karakalpakstan. These enterprises will be launched next year and transferred to entrepreneurs on industrial mortgage terms. They will create the opportunity to export products worth $1.5 billion.