RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of January 7, 1997 No. 4

About production organization of baby food on vegetable and fruit basis

For the purpose of satisfaction of need of the population of the republic for high-quality baby and other special food, the Cabinet of Ministers decides creation of modern productions on conversion of fruit and vegetables for development of the export potential:

1. Accept the offer of the State Property Committee of the Republic of Uzbekistan, Uzplodoovoshchvinprom association and National Bank of foreign economic activity of the Republic of Uzbekistan on formation of Bolalar Taomlari-holding holding company on production of baby and other special food in the form of N1 public joint stock company.

2. Agree that the main objectives and the directions of JSC Bolalar taomlari-holding are:

production organization of baby and other special food;

participation in development and implementation of state programs on providing the population of the republic with baby food;

the organization and development of coordination communications between the companies making baby and other special food on vegetable and fruit basis;

implementation of marketing researches of the internal and external markets, satisfaction of demand for different types of baby and other special food;

involvement of foreign investors and the organization with the leading foreign firms of joint businesses for production of high-quality baby and other special food.

3. To the State Property Committee of the Republic of Uzbekistan, Uzplodoovoshchvinprom association and National Bank of foreign economic activity of the Republic of Uzbekistan to develop constituent documents, structure of central office and the staff list in a month, to hold the constituent assembly and to register in accordance with the established procedure JSC Bolalar taomlari-holding.

4. Take into consideration that:

between Uzplodoovoshchvinprom association and the Teksuna International Ltd. company (USA) the delivery contract of technology, the equipment and consumable materials for production in year of 80 million cans of baby food and 113 thousand aseptic packagings with fruit segments in syrup, with the schedule of input of capacities at the companies according to the appendix N2 is worked out;

the advance payment in the amount of 15 percent from the cost of the contract is made for the credit account of National Bank of foreign economic activity of the Republic of Uzbekistan with principal payment and percent within 5 years, with payment deferral for two years;

85 percent from the cost of the contract are financed for the credit account of banks of the USA under insurance coverage of Eximbank of the USA refinanced by National Bank of foreign economic activity of the Republic of Uzbekistan with repayment of the main credit amount and percent on it within 7 years, including two years of grace period;

percent for the credit obtained under insurance coverage of Eximbank of the USA during the grace period are paid for the credit account, provided by National Bank of foreign economic activity of the Republic of Uzbekistan for a period of 5 years;

repayment of the credits, and also percent on them is performed at the expense of own means of JSC Bolalar taomlari-holding;

the Teksuna International Ltd. company undertakes contract commitment within 7 years to buy all amount of fruit segments in sugar syrup produced on the created productions;

expenses in national currency are performed due to attraction of own means of founders of JSC Bolalar taomlariholding.

5. Provide to Uzplodoovoshchvinprom association passing in accordance with the established procedure of project appraisal of the contract in republican engineering company "Uzinvestproyekt" and conclude with the Tekstuna International Ltd. company:

the delivery contract of technology, the equipment and consumable materials for production of baby food and fruit segments in syrup;

the fyyuchersky export contract of the made products.

To the ministry of external commercial relations and National Bank of foreign economic activity of the Republic of Uzbekistan to register the specified contracts in accordance with the established procedure.

Transfer JSC Bolalar taomlari-holding the rights and obligations under the contracts signed by Uzplodoovoshchvinprom association with the Teksuna International Ltd. company.

6. Authorize the Minister of Finance of the Republic of Uzbekistan to issue in accordance with the established procedure guarantees of the Government of the Republic of Uzbekistan to Eximbank of the USA and National Bank of foreign economic activity of the Republic of Uzbekistan on the loans attracted on this project.

To the Ministry of Justice of the Republic of Uzbekistan in accordance with the established procedure to draw up the legal conclusion on guarantee of the Government of the Republic of Uzbekistan.

7. To National Bank of foreign economic activity of the Republic of Uzbekistan in two-month time to sign the credit agreement with the financing bank under insurance of Eximbank of the USA and to provide refinancing of the credit of JSC Bolalar taomlari-holding.

8. In accordance with the established procedure to provide to the republican commission on monetary policy converting of means of JSC Bolalar taomlari-holding for payment of costs on repayment of the credits, percent on them, and also expenses on production of baby and other special food.

9. Exempt the Yangiyul-konserva, Kattakurgonsakhovati and Gazalkentsky konservny zavod companies which are part of JSC Bolalar taomlari-holding for mastering of production facilities and before completion of calculations for the credits from the income tax on newly created production, customs duties, from payment of the consular fees for execution of visa documents for foreign specialists for construction, installation and warranty period of processing equipment.

10. Grant to JSC Bolalar taomlari-holding the right to make payment in poison ivy for accommodation in hotels of the foreign specialists arriving for installation and start of processing equipment in the quotations operating for citizens of the Republic of Uzbekistan.

11. Place executive office of the JSC Bolalar taomlari-holding company to the address: Tashkent, Ulitsa Lakhuti, 16 A.

12. Consider N15-f which voided the order of the Cabinet of Ministers of the Republic of Uzbekistan of January 9, 1996 regarding attraction of KP "Gazalkentsky cannery" and JSC Yangiyul-konserva in the program of cooperation of the State Property Committee of the Republic of Uzbekistan with Central Asian investment company (Great Britain).

13. To impose control over the implementation of this resolution on the First Deputy Prime Minister of the Republic of Uzbekistan Obidov K. G. and the Deputy prime minister of the Republic of Uzbekistan Zheng V. A.

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