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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

(as amended on 07-05-2020)

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 of road, rail and air transport.

Determine that the support measure provided by this Item is not applied for export of products to the adjacent states, except for export of products to the Islamic Republic of Afghanistan and other cases, 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.

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.

5. Take into consideration that tasks on rendering financial assistance to the export organizations in implementation of the international systems of standardization and certification as in the republic, and abroad, registration of national products in authorized bodies of foreign countries, and also creation of exhibition stands and participation in the international trade fairs, holding the presentations and advertizing campaigns, including regarding promotion of traditional national products and brands for the potential markets are assigned to the Agency.

To the agency in two-month time to develop and submit for approval in the Cabinet of Ministers the mechanism of rendering the specified financial assistance to the export organizations, having provided payment of part of costs for receipt of necessary licenses, permissions, certificates in foreign countries, and also the registration fees and other payments connected with participation of subjects of entrepreneurship in the international tenders and tenders.

6. Determine that since June 1, 2019 export of hens, rabbits and fish in live type and products of their slaughter does not require permission of the President of the Republic of Uzbekistan or the Government of the Republic of Uzbekistan.

7. Approve offers of the Ministry of investments and foreign trade of the Republic of Uzbekistan and the Board of directors of the National company of export-import insurance Uzbekinvest (further - NKEIS Uzbekinvest) about:

increase in the authorized capital of NKEIS Uzbekinvest to 221,6 of one billion sum at the expense of equity of the company;

introduction in structure of NKEIS Uzbekinvest of position of the First Deputy CEO concerning preexport and export insurance.

8. Determine that:

NKEIS range of services Uzbekinvest on insurance support of export includes insurance of the credit to the buyer, short-term receivables, the credit of the supplier, the confirmed letter of credit, the credit for replenishment of current assets of the exporter, export factoring and other instruments of insurance support of export;

in case of exceeding of total amount of insurance indemnity according to all insurance contracts of export contracts and the credits (regarding export of non-oil products) for financial year of 10 percent of equity of NKEIS Uzbekinvest, losses of the company in the amount exceeding 10 percent of equity are compensated for the account of means of the Government budget of the Republic of Uzbekistan by increase in its authorized capital.

9. To provide to the ministry of investments and foreign trade of the Republic of Uzbekistan:

together with Agency on management of the state assets in two-month time in accordance with the established procedure development and entering into the Cabinet of Ministers of the corresponding draft of the government decision on further enhancement of activities of NKEIS Uzbekinvest;

together with the Ministry of Finance and the Ministry of transport of the Republic of Uzbekistan in a month introduction on approval in the Cabinet of Ministers of the Regulations on procedure for compensation of transport costs when exporting products at the expense of means of the Government budget of the Republic of Uzbekistan depending on the country of destination and deadline for which subsidies are provided, having provided the mechanism of acceptance and consideration of requests with use of the information systems providing fixation of the fact of the notice including on the export deliveries performed since May 1, 2019;

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