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RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of March 16, 2016 No. PP-2507

About measures for further enhancement of activities of fund on support of export for small business subjects and private entrepreneurship

(as amended of the Resolution of the President of the Republic of Uzbekistan of 26.05.2017 No. PP-3009)

For the purpose of further expansion of activities of Fund on support of export for small business subjects and private entrepreneurship, improvement of conditions on promotion on the foreign markets of domestic manufacturers products, including farms, provisions of preexport financing and participation in the authorized capital of export-oriented business entities of the republic:

1. Agree with offers of the Ministry of Finance, Central bank, National Bank of foreign economic activity of the Republic of Uzbekistan, subjects of small business and private entrepreneurship, farms, and also other commercial banks, financial institutions and donors about increase in 3,0 of time of the authorized capital of Fund of support of export of subjects of small business and private entrepreneurship, with finishing its general size with 5,3 of one billion bags. to 10,3 of one billion bags. and 2, 0 million US dollars at the expense of voluntary contributions of founders according to appendix No. 1.

2. Expand the list of the financial services rendered by Fund of support of export of subjects of small business and private entrepreneurship, having provided:

participation of Fund, according to the legislation, in the authorized capital of subjects of small business and private entrepreneurship which do not have sufficient equity for production organization of export-oriented products with the subsequent realization in the procedure for share of Fund for market value established by the legislation within two years since the beginning of production and delivery of products to export;

providing financial support to subjects of small business, private entrepreneurship and to farms by compensation of part of the costs connected with upgrade and expansion of production, involvement of foreign specialists for the purpose of bringing level of design of products to international standards and conclusion of domestic production to the foreign markets by it, taking into account its demand, with the subsequent return of the spent means to Fund from subjects of small business, private entrepreneurship and farms.

3. Reduce the amount of commission contributions to Fund for the legal, financial and organizational services rendered to them connected with implementation of the external economic transactions from 3 to 1 percent from the cost of the contract, but 100,0 of one thousand bags suffices.

4. Determine that the Fund of support of export of subjects of small business and private entrepreneurship has the right to open in accordance with the established procedure representations in foreign countries.

5. Ccouncil of Fund (S. B. Rakhimov) shall in a month in coordination with the Ministry of Finance of the Republic of Uzbekistan review regulations on procedure for forming and use of fund on support of export for small business subjects and private entrepreneurship, having provided in it the sizes and terms of participation of Fund in the authorized capital of subjects of small business and private entrepreneurship, and also use of fund, including in foreign currency, on the following purposes:

development of export of products (goods, works, services) of small business entities and farms by preexport financing and participation of Fund in the authorized capital of small business entities, with use of the made investments on acquisition of processing equipment for production of export-oriented products;

payment of necessary licenses, permissions, certificates according to the legislation of foreign countries, advertizing of the made products abroad;

participation in foreign exhibitions and fairs with rendering consultations according to the conclusion of export contracts;

payment of other expenses connected with promotion of export of products of domestic manufacturers.

6. In accordance with the established procedure to provide to National Bank of foreign economic activity of the Republic of Uzbekistan, Council of farmers of Uzbekistan together with subjects of small business, private entrepreneurship and farms, other commercial banks, financial institutions and donors state registration of the made changes in the fund charter following from this resolution.

7. Make changes and additions to the resolution of the President of the Republic of Uzbekistan of August 8, 2013 No. PP-2022 "About additional measures for support of export of subjects of small business and private entrepreneurship" according to appendix No. 2.

8. To National Bank of foreign economic activity, the Central bank together with the Ministry of Justice of the Republic of Uzbekistan and other interested ministries and departments to make in the Cabinet of Ministers offers on the changes and amendments in the legislation following from this resolution in a month.

9. To impose control of execution of this resolution on the Prime Minister of the Republic of Uzbekistan Sh. M. Mirziyoev.

President of the Republic of Uzbekistan

I. Karimov

Appendix № 1

to the Resolution of the President of the Republic of Uzbekistan of March 16, 2016 No. PP-2507

The list of founders of Fund of support of export of subjects of small business and the private entrepreneurship bringing additional contributions for increase in the size of the authorized capital of Fund

The name of the founders of Fund bringing additional contributions for increase in the size of the authorized capital of Fund

Size of additional contribution

one million bags.

one million US dollars

1.

Uznatsbank

2 300,0

2,0

2.

JSB Usak

700,0

-

3.

JSB Uzpromstroybank

700,0

-

4.

Banking association of Uzbekistan

700,0

-

5.

Joint-stock company "Uztreyd

50,0

-

6.

JSC Uzsanoateksport

50,0

-

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