PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of July 23, 2024 No. UP-104

About measures for further development of the sphere of production of jewelry and providing their competitiveness

For the purpose of further development and transformation of the jewelry industry into one of the leading industries of the republic, implementation of effective mechanisms of the state support of activities for production and realization of jewelry, increase in indicators of export of products and providing its competitiveness in the internal and external markets:

1. Approve offers of Chamber of Commerce and Industry, the Ministry of Economics and finance, and also Uzbekzargarsanoati Associations:

about creation in 2024 - 2026 with participation of JSC Uznatsbank in the Bukhara and Namangan regions on one and in the city of Tashkent of two jewelry centers;

about the organization in the jewelry centers of infrastructure, necessary for subjects of entrepreneurship (production and trading floors, showrooms, reserves of precious metals, laboratories by determination of their test);

about finishing until the end of 2025 of annual production of jewelry and other products from precious metals and gemstones (further - jewelry) to 1 billion US dollars, export indicators - to 100 million US dollars.

2. To Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and the city of Tashkent together with the Ministry of Economics and finance, Agency on management of the state assets, Chamber of Commerce and Industry and the Central bank:

as a matter of experience JSC Uznatsbank until the end of 2025 to create the jewelry centers as well in other regions of the republic;

till January 1, 2025 to take measures for transfer to subjects of entrepreneurship and commercial banks in long-term lease or in property of the state real estate objects as single property or with their separation into lots (parts and rooms) with cost payment term by installments for the subsequent organization of activities of the jewelry centers in them.

3. Determine that in case of realization of precious metals with payment deferral condition to the producers of jewelry performing activities in the jewelry centers created according to this Decree:

on part of the payments made within 90 days - percent are not charged;

on part of the payments made since 91st day till the 180th day - percent in the amount of 3 annual interest rates are charged.

4. For the purpose of satisfaction of requirement of producers of jewelry for precious metals to implement procedure, according to which:

a) producers of jewelry are uninterruptedly provided to JSC Almalyksky MMC and JSC Navoiysky MMC with necessary amount of precious metals.

At the same time in case of early sale of the state order of annual amount of precious metals provided in parameters, JSC Almalyksky MMC and JSC Navoiysky MMC are allocated additional amounts of precious metals for the subsequent realization at the exchange biddings and under direct agreements;

b) in warehouses of regional branches of JSC Uznatsbank in the Republic of Karakalpakstan, areas and the city of Tashkent of JSC Almalyksky MMC and JSC Navoiysky MMC reserves of precious metals are created.

At the same time producers of jewelry are granted the right of receipt of the precious metals acquired at the exchange biddings and under direct agreements, is direct from warehouses of JSC Uznatsbank, without visiting JSC Almalyksky MMC and JSC Navoiysky MMC;

c) since September 1, 2024:

to the affinaging companies which are members of Uzbekzargarsanoati Association the acquisition right at JSC Almalyksky MMC and JSC Navoiysky MMC of precious metals on the basis of direct contracts with condition of 100 percent advance payment and the subsequent realization is granted to producers of jewelry with their reduction in acceptable forms and amounts;

producers of jewelry are allowed to realize the semifinished products of jewelry made by them to other producers of jewelry;

d) during the period from October 1, 2024 to October 1, 2027:

when importing the ligature used in the jewelry industry the requirement for receipt of the import license of specific goods is cancelled;

the ligature imported on the territory of the Republic of Uzbekistan and used in the jewelry industry is exempted from customs duty payment;

e) in case of realization of precious metals using discounts:

requirements imposed to quantity of the workplaces which are subject to creation of jewelry by producers become simpler and also terms of consideration of the applications are reduced by receipt of discounts;

it is allowed to acquire precious metals using discounts along with the exchange biddings also based on direct agreements.

5. Determine that for the purpose of providing jewelry with financial resources of producers, expansion of production of high-quality products and promotion of national brands in the world markets:

a) target resources of Fund of reconstruction and development in equivalent of 100 million US dollars are placed as the deposit in commercial banks according to their requests for a period of 5 years with interest rate on three percent points below the main rate of the Central bank. At the same time:

commercial banks at the expense of the means placed on deposits allocate to producers of jewelry domestic currency loans for up to 5 years, including two-year grace period, at the main rate of the Central bank (from them margin of bank - 3 percent) on the purpose of implementation of investment projects, acquisitions of the equipment and spare parts, and also replenishments of current assets;

to the means placed on deposits, the mandatory reserve requirements created in the Central bank are not applied;

b) since August 1, 2024 when placing under customs regime "temporary export" of the ready jewelry which is exported for display in foreign exhibitions and fairs collection for execution of customs documentation is levied in single size of basic settlement size. At the same time subjects of entrepreneurship are granted the right on:

realization at exhibitions and fairs of this jewelry, with their subsequent room under customs regime of "export" based on invoice;

transfer of the means arriving from realization of jewelry at exhibitions and fairs on the settlement accounts in banks of the Republic of Uzbekistan including by means of bank transfers or by cash deposit of money;

c) during the period from October 1, 2024 to October 1, 2027:

the equipments which are not made in the Republic of Uzbekistan and used in jewelry industry, packaging and label products imported according to the lists approved in accordance with the established procedure are exempted from customs duty payment;

concerning jewelry, temporarily imported by nonresidents of the Republic of Uzbekistan on the republic territory within the International exhibition sale "Uzbek Jewellery Fair" and subject in subsequent to the return export, customs duties for execution of customs documentation are not levied.

To the ministry of investments, industry and trade till January 1, 2025 to take necessary measures for accession of the Republic of Uzbekistan to the Kimberley process and to provide implementation in the national legal system of the provisions provided by the Scheme of certification of this process.

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