ANNOUNCEMENT 28 Nov 2008In November 2008, the government of Uzbekistan announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
the website of the President. Available from < http://www.press-service.uz/ru/content/dokumentyi/#ru/news/show/ukazyi_prezidenta/program_of_support_of_real_sector_approv/ >
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On 28 November 2008, President of Uzbekistan Islam Karimov signed a decree approving the Program of measures to support the enterprises of the real sector of the economy, ensuring their stable work and increasing their export potential.
In order to overcome the negative consequences of the world financial crisis and ensure the macroeconomic balance and stable economic growth, the President signed the decree on the Program of measures to support the enterprises of the real sector. The program was developed by the Cabinet of Ministers.
The decree outlines the main factors helping to overcome the crisis consequences in the real sector and lays foundations for the further growth and expansion of production and exports. Among these factors are modernization of enterprises, attracting modern technologies and introducing international standards of quality.
The program envisages additional measures to speed up the implementation of the 11 important programs of modernization in basic sectors, replacement of the old equipment and starting the realization of the most important project in industry and transport infrastructure.
The program includes measures to support exporters in ensuring the competitiveness of their products in foreign markets and creating additional stimuli for export. The exporting enterprises will be able to receive soft credits and will get temporary tax preferences.
The document also contains measures to prevent the ungrounded growth of prices for energy and main communal services, as well as reduction of the production's cost price at least by 20%.
Additionally, the program lists measures for development and stimulation of the small business and private entrepreneurship.