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Economy 04/04/2024 Subsidies to be allocated to individual business entities
Subsidies to be allocated to individual business entities

Tashkent, Uzbekistan (UzDaily.com) -- The Presidential Resolution “On measures to implement the tasks identified within the framework of the dialogue between the President of the Republic of Uzbekistan and entrepreneurs engaged in the cultivation, production and export of agricultural and food products” was adopted.

According to the Resolution, in 2024, within the framework of the Comprehensive Program for the continuous support of small businesses by commercial banks, credit resources in a total amount of up to 1.5 trillion soums will be allocated for activities related to the cultivation, storage, sorting, drying, processing and export of highly profitable and export-oriented agricultural products.

A procedure will be introduced for submitting applications for placing stands of domestic products in the most advantageous locations of prestigious international exhibitions and fairs specializing in agricultural products, and for preliminary 100% payment for these locations using funds actually allocated to the Trade Promotion Fund.

At the same time, subsidies for expenses for participation in exhibitions and fairs are allocated in accordance with the category in the Sustainability Rating of business entities, in particular, those classified as “AAA” - in the amount of 100 percent, category “AA” - 95 percent, category “A” - 90 percent, category "BBB" - 85 percent, category "BB" - 75 percent, category "B" - 65 percent.

From 1 April 2024:

if the amount of currency not received under one export contract for fruits and vegetables does not exceed 10 percent of the value of all products shipped for export, it is not considered as an overdue receivable and no penalties are applied to the business entity;

Until 1 January 2026, registration as self-employed individuals engaged in collecting agricultural products in mahallas and selling them exclusively to domestic exporting enterprises is permitted.

Diplomatic missions of Uzbekistan abroad will establish the activities of trading agents for the export and sale of domestic agricultural products in the relevant states.

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