ANNOUNCEMENT 01 Jan 2009In January 2009, the government of Uzbekistan announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
The webpage of the Ministry of Foriegn Affairs. Available from < http://mfa.uz/eng/press_and_media_service/dates/110309_book/ >
A stimulus package entitled "Anti Crisis Action Programme 2009-2012" was introduced in January 2009. The programme includes support of the banking system, export companies as well as it creates incentives for export through preferential credit and tax rebates.
Documentation for the programme states:
"the implementation of concrete measures to support the exporter-companies in ensuring their competitiveness at foreign markets given the rapid worsening of current conditions, creation of additional incentives for exports, in particular:
In addition, support for food and consumer goods producers is envisaged:
"The programs adopted to stimulate the expansion of production of food and non-food consumer goods envision a broad system of incentives for the local producer-companies. In particular, for the period until January 1, 2012 the following types of tax and customs benefits are offered:
The sources of financing are going to be as follows: own financial assets of companies and enterprises for a total amount of 8.2 billion US dollars, credits of the Reconstruction and Development Fund of the Republic of Uzbekistan worth 2.5 billion dollars and foreign investments and credits totaling 13.5 billion dollars.
(Two years ago Uzbekistan established the Development and Reconstruction Fund with authorized capital, which now amounts to over 3.2billion US dollars. The Fund plays an important role in the implementation of strategic projects along structural transformation and modernization of the economy, as well as the establishment of the production infrastructure.)