300 million dollars will be streamlined to develop Uzbekistan’s textile industry

On April 23, President of Uzbekistan Shavkat Mirziyoyev held a meeting on ensuring the stable development of textile industry and mitigating the impact of novel coronavirus.

The President ordered to extend the deadline for final payment term for cotton fiber sold before April 1, 2020 from 90 to 150 days. Besides, Uzbekistan will introduce VAT instant return mechanism that will follow after export customs clearance.
Uzbek leader instructed to enlarge finished production within the five years by 4-5 times, develop foreign masters through improving product competitiveness. At the meeting instructions were given on the organizing of large export enterprises with the participation of foreign companies, the production of popular products under well-known brands.
Namangan, Samarkand and Tashkent regions will host new enterprises on exporting manufactured goods. 300 million dollars will be allocated for these purposes within “Reconstruction and Development” Funds’ credit line.
Ministry of Investments and Foreign Trade and “Uztukimachiliksanoat” Association are responsible for obtaining GSP+ beneficiary status for duty-free trading in the European Union market. President also touched on urgency of BSI certification with the assistance of the International Finance Corporation.

In Uzbekistan, COVID-19 recovery rate exceeds 32%; morality – around 0,4%.

On April 24, the Head of the State Inspection of Sanitary and Epidemiological Surveillance under the Cabinet of Ministers of Uzbekistan, Chief State Sanitary Inspector Nurmat Otabekov stated that in Uzbekistan recovery rate exceeds 32%, while mortality rate makes around 0,4%.
“To this date, a number of recovered and forwarded for rehabilitation surpasses 560 people. While word recovery index makes 27%, in Uzbekistan the number stays at 32%,” stated Otabekov. “World mortality rate is 7%. In Uzbekistan – around 0,4%. Currently, around 1,190 citizens undergo diagnostic treatment”.

Uzbekistan and UNCTAD mapped out a number of prospective directions for collaboration.

Deputy Prime-Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov and United Nations Conference on Trade and Development (UNCTAD) Secretary-General Mukhisa Kituyi, via videoconference, discussed the prospects of bilateral cooperation that includes attracting UNCTAD’s technical assistance.
During the meeting, Mukhisa Kituyi praised Uzbekistan’s actions headed by the President of Uzbekistan Shavkat Mirziyoyev’s reform agenda to liberalize economy and introduce market principles and spoke on the growing interest of world businesses to country’s economic transformation.
In this regard, parties put forward the initiative to prepare and publish “Investment Policy Review of Uzbekistan” and “Investment Guidebook on Uzbekistan”. Noteworthy, similar documents were only prepared once in history.
Deputy Prime-Minister and UNCTAD SG reviewed issues of improving the work of Uzbekistan’s free-economic zones (FEZ). UNCTAD will assist drafting FEZ development concept. “Khazarasp” FEZ in Khorezm region will serve as a pilot project.
Mukhisa Kituyi also expressed his support of the project aimed at developing a value chain in the fruit and vegetable sector of Uzbekistan as part of a special UNCTAD program to support landlocked states. Additionally, he expressed readiness to assist the preparation of special program for increasing the export of processed fruits and vegetables.
Uzbekistan’s plans on integration into the world economy was also on the agenda. As stated at the event UNCTAD is ready to support Uzbekistan’s candidacy for World Trade Organization (WTO) and assist in obtaining beneficiary status with Generalized Scheme of Preferences (GSP) EU’s GSP+.
Parties also tapped on joined efforts in the area of technology and digitalization. UNCTAD staff offered support in such areas as improving the national statistical system of attracted and assimilated foreign investments, introducing the ASYCUDA system in the structure of customs authorities, that oversees the complete digitalization of customs procedures and their transition to a contactless mode of operation; provision of technical consulting in the development of the functional of the investment portal of Uzbekistan and its promotion among foreign business circles.
To conclude the meeting, parties reaffirmed the readiness to actively support each other and mapped out a plan of further actions to bring join initiatives to life.

“Dunyo” IA