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PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of May 18, 2019 No. UP-5721

About measures for the accelerated development of jewelry industry in the Republic of Uzbekistan

(as amended on 15-12-2021)

In the country efforts on recovery and development of domestic jewelry industry consistently are accepted. Providing to producers of access to precious metals allowed to expand amount of the made domestic jewelry production.

At the same time, availability of system shortcomings constrains active investment attraction, upgrade acting and the organization of new capacities for production of high-quality jewelry products, expansion of its export that negatively affects development of industry.

For the purpose of expansion of production of high-quality and competitive jewelry products, active attraction in industry of foreign investments, rendering full support to domestic manufacturers in production of competitive and high-quality jewelry, and also creating favorable conditions for the further accelerated development of jewelry industry of the republic:

1. Approve offers of the Ministry of Economy and Industry, the State Customs Committee of the Republic of Uzbekistan and Uzbekzargarsanoati Association on introduction since July 1, 2019 about according to which:

the domestic manufacturers having the license for production of jewelry are granted the right to independently perform approbation and putting down on the jewelry and other products made by them from precious metals and gemstones (further - jewelry) prints of sign of test of the established sample without obligatory state approbation with putting down condition on product of the registered personal brand of the producer.

At the same time the subjects of entrepreneurship which allowed violation of procedure for branding and approbation and realizing the jewelry which is not corresponding to the declared test are subject to entering into the register of unfair subjects of entrepreneurship of jewelry industry using concerning them corrective actions according to the procedure, established by the legislation, including on cancellation of the license or other document of allowing nature;

the individual entrepreneurs having the license for production of jewelry have the right to independently enable retail sale of products of own production, and also buying up at the population of scrap of precious metals, gemstones and products from them in the production purposes;

the legal entities who do not have the state share in authorized fund or from shares of the state less than 50 percent and also individual entrepreneurs independently determine procedure for expenditure, accounting and storage on production of precious metals and gemstones;

physical persons are allowed to export ready jewelry which cost exceeds 5 000 (five thousand) US dollars, with filling of the passenger customs declaration out of limits of the Republic of Uzbekistan;

retail trade by jewelry is not object of collection for the right of retail trade by separate types of goods;

by subjects of entrepreneurship within prospecting activities production of precious and semiprecious stones for providing producers of jewelry can be performed;

with the assistance of the individual entrepreneurs having the license for production of jewelry in Uzbekzargarsanoati Association by means of consolidation on voluntary basis in the single organization the stipulated by the legislation rights and obligations, and also privileges and preferences of members of association extend to them.

2. Provide to commercial banks and producers of jewelry the right:

acquire at GP "Navoiy MMC" and JSC Almalyksky MMC precious metals (gold and silver) in the form of measuring plates, and also granules weighing from 5 grams and above for national currency proceeding from the price of morning fixing of the London exchange of precious metals (in terms of the net weight of precious metals);

realize the acquired precious metals to other producers of jewelry.

To the Uzstandart agency together with Uzbekzargarsanoati Association, GP "Navoiy MMC" and JSC Almalyksky MMC to develop and approve State standard of measuring plates, and also granules of precious metals (gold and silver) taking into account creation of sales opportunity of this Item in a month.

3. Implement since June 1, 2019 the mechanism of the state support of domestic manufacturers of jewelry products by provision of support to business activity of compensation by the State fund on covering of interest expenses on the credits of commercial banks in national currency issued for purchase of precious metals in the part exceeding refunding rate of the Central bank of the Republic of Uzbekistan, but no more than 5 percent points on the credits.

To the Ministry of Finance, as required, to allocate to the State fund of support of development of business activity under the Cabinet of Ministers of means from the Government budget of the Republic of Uzbekistan at the rate to 40 billion sum in 2019-2020 for the purposes specified in this Item.

4. Banking associations of Uzbekistan together with commercial banks to expand practice of issue of revolving (renewable) short-term loans for purchase of precious metals by producers of jewelry.

5. Exempt for up to July 1, 2022:

from the value added tax and the excise tax turnover on production and realization of precious metals and domestic jewelry;

from customs payments (except for customs fees) the precious and semiprecious stones imported into the Republic of Uzbekistan according to the lists created in accordance with the established procedure.

To the deputy prime minister - the Minister of Finance of the Republic of Uzbekistan D. A. Kuchkarov to include in the draft of the Tax code of the Republic of Uzbekistan in the new edition the tax benefits provided by this Item.

6. Enter since July 1, 2019 collection for the jewelry realized in retail trade from gold in the amount of 1 000 (one thousand) sum for 1 gram with annual indexation of its size when forming parameters of the Government budget of the Republic of Uzbekistan for the next year.

7. Approve the Comprehensive program of measures for development of jewelry industry in the Republic of Uzbekistan for 2019 - 2023 according to appendix No. 1.

8. To Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and the city of Tashkent together with the Ministry of Economy and Industry of the Republic of Uzbekistan, Uzbekzargarsanoati Association until the end of 2020 to organize with participation of subjects of entrepreneurship in each region at least two, and in the city of Tashkent - at least ten modern jewelry trade and production centers including complete cycle from production before realization of ready jewelry.

To the Cabinet of Ministers of the Republic of Uzbekistan in two-month time to make the government decision providing approval of the schedule of the organization of the modern jewelry trade and production centers with indication of specific initiators, locations, sources of financing, production volumes (realization) of jewelry and also other necessary organizational measures for creation of data of the centers.

In a month to transfer to agency on management of the state assets, the Ministry of the higher and secondary vocational education of the Republic of Uzbekistan Uzbekzargarsanoati Associations objects according to appendix No. 2 for the organization of activities of the jewelry trade and production centers.

9. Agree with the offer of Uzbekzargarsanoati Association, Ministry of Economy and Industry and Ministry of Finance of the Republic of Uzbekistan on creation under Uzbekzargarsanoati Association of Fund of development of jewelry industry (further - Fund) without formation of legal entity.

10. Determine sources of forming of fund:

in 2019 means of the Government budget of the Republic of Uzbekistan in the amount of 5 billion sum, and during 2020-2021 to provide necessary means when forming the Government budget of the Republic of Uzbekistan in the amount of equal at least 50 percent of receipts from collection for the jewelry realized in retail trade from gold;

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