Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev signed a resolution "On additional measures to further develop the electrical industry and increase the competitiveness of domestic products."

In accordance with the resolution, the main targets for the efficiency of the electrical industry for 2021–2022 have been determined.

In particular, it is envisaged to bring the number of jobs in the industry to 27 thousand in 2021, and to 34 thousand in 2022.

The resolution approved the Program for the creation of new production facilities and diversification of production in the electrical industry in 2021–2022.

According to the Program, a total of 136 projects will be implemented in this area, thanks to which 9,657 jobs will be created.

From 1 March 2021, the procedure for compensation by the State Fund for the Support of Entrepreneurship for a period of up to three years is established for the part of the interest rate exceeding the basic rate of the Central Bank, but not more than 5 percentage points in the part up to 20 billion soums of loans issued to enterprises of the electrical industry in national implementation of investment projects for the production of electrical and electrical household products, as well as replenishment of working capital, with an interest rate not exceeding 1.5 times the size of the main rate of the Central Bank.

Until 1 January  2024, subsidies will be provided to cover 50 percent of the cost of transportation by road, rail and air for the export of electrical and electrical household products to all countries, including neighboring countries, but not more than 15 percent of the cost of export of products (excluding transport expenses) by road, 20 percent - by rail.

From 1 April 2021 to 1 January 2024, the rates of income tax and property tax will be reduced by 50 percent for enterprises of the electrical industry, the amount of proceeds from the sale of electrical products for which at the end of the reporting period is at least 80 percent of total receipts.

According to the resolution, funds in the amount of 75 billion soums will be allocated to the Electrotechnical Industry Development Fund in equal shares in the first, second and third quarters of 2021.

From March 2022, the annual International Trade Exhibition of Electrical Engineering and Electronics ("Uzbek International Electrotechnics & Electronics Fair") will be organized.