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RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of May 24, 2019 No. PP-4337

About measures for expansion of funding mechanisms and insurance protection of export activities

According to the resolution of the President of the Republic of Uzbekistan of December 20, 2018 No. PP-4069 "About measures for strengthening of assistance and stimulation of export", and also for the purpose of creation of necessary conditions for effective implementation of mechanisms of export and preexport financing, export credits insurance and risks:

1. Agree with offers of the Ministry of investments and foreign trade, the Ministry of Finance and Ministry of Economy and Industry of the Republic of Uzbekistan on establishment of procedure for the state support of exporters according to which the State fund of support of development of business activity under the Cabinet of Ministers of the Republic of Uzbekistan (further - Fund) provides to exporters:

compensations on covering of interest expenses on the preexport loans of commercial banks including issued for replenishment of current assets to refunding rate of the Central bank of the Republic of Uzbekistan, but no more than 10 percent points on domestic currency loans, and in the amount of 40 percent from the rate established by commercial banks, but no more than 4 percent points - on foreign currency loans;

guarantees on the credits of commercial banks at the rate to 50 percent inclusive from the amount of preexport loan, but no more than on 4 billion sum.

Determine that the support measures provided by this Item do not extend to export of the primary goods specified in appendix No. 1 to the Presidential decree of the Republic of Uzbekistan of November 29, 2018 No. UP-5587 "About Measures for Further Stimulation of the Export Potential of Domestic Manufacturers".

To the Ministry of Finance of the Republic of Uzbekistan on the basis of requests of Fund to allocate during 2019-2020 funds from the Government budget of the Republic of Uzbekistan at the rate to 50 billion sum for the purposes specified in this Item.

2. Banking associations of Uzbekistan together with commercial banks to expand types of financing of the export companies, including by means of loan granting for replenishment of current assets.

3. Implement procedure for granting to the domestic export companies (their authorized representatives) of subsidies for compensation to 50 percent of transport costs by rail when exporting products according to the list according to appendix.

Determine that the support measure provided by this Item is not applied for export of products to the adjacent states, except as specified, stipulated by the legislation.

Determine the Agency of promotion of export under the Ministry of investments and foreign trade of the Republic of Uzbekistan (further - the Agency) authorized body by payment of subsidies at the expense of means of the Government budget of the Republic of Uzbekistan on compensation of part of transport costs of products for export.

Grant the right to the Ministry of investments and foreign trade to bring, in coordination with the Ministry of Finance and the Ministry of Economy and Industry of the Republic of Uzbekistan, change and amendment in the list approved by this Item.

4. Establish procedure according to which the legal entities having share of export of finished goods in total sales from sales of goods (works, services) of more than 50 percent following the results of the accounting period including through the broker (attorney), according to their statements are granted delay on the tax discharge on value added for up to 120 days from the date of adoption of the customs declaration when importing raw materials, components and materials used in case of production of the exported products.

To the Ministry of Finance, the State Customs Committee and the State Tax Committee of the Republic of Uzbekistan in two-month time to develop and approve procedure for provision of delay on the tax discharge on value added to the export companies.

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