Chemical industry serves the progress of the economy
22/05/2019 16:48
Chemical industry serves the progress of the economy
22/05/2019 16:48
Tashkent, Uzbekistan (UzDaily.com) - On the basis of the Action Strategy on the five priority areas of development of the Republic of Uzbekistan, as well as the Decree of the head of our state of 23 August 2017 “On the program of development of the chemical industry for 2017-2021” a special development program of the industry was adopted for the near term. It envisages the implementation of 43 investment projects totaling US$3.1 billion.
In particular, for the construction of the production of ammonia and carbamide, nitric acid, polyvinyl chloride (PVC), caustic soda and methanol in the joint-stock company "Navoiazot", three large investment projects were developed and on which certain works are carried out on the basis of specific programs.
It should be noted that “Navoiazot”, being the largest industrial production enterprise in Uzbekistan, is engaged in release of mineral fertilizers and chemical reagents.
This company was launched back in 1964. Over time, technical equipment is physically and morally obsolete. Today, products are being produced at the expense of large amounts of electricity and other natural resources: that is, the efficiency does not meet the requirements of today. In this regard, the implementation of effective work has begun on three major projects.
As a result, the company had the opportunity to increase the types of mineral fertilizers. Natural resources will be saved for this. Japanese partners - Mitsubishi Heavy Industries, Ltd., Mitsubishi Corporation planned to launch the complex by 2020.
Today the company employs 8,835 workers. In 2018, the joint-stock company produced goods for 1 trillion 54 billion soums, resulting in a net annual income of 4 billion 530 million soums.
In order to support the employees of Navoiazot within the framework of the Concept of Improving Uzbekistan’s Tax Policy, starting from January 1, 2019 as a result of a reduction in the income tax levied on all individuals from 22% to 12%, as well as the termination of the 8% insurance premium in the off-budget pension fund, the real incomes of the labor collective were increased in the amount of 10 billion 968 million soums per annum remaining at their disposal.
In addition, if in 2018 the enterprise had an annual wage fund of 137 billion 243 million soums, then in 2019 the fund will be raised to 159 billion 49 million soums, that is, 21 billion 806 million soums compared to last year.
Also, if in 2018, 33 billion 717 million soums were allocated for obligatory payments, and in 2019, due to the abolition of these tax payments, the income of the enterprise increases.
If the company paid 147.5 billion soums of tax and other obligatory payments in 2018, then in 2019 the amount of tax and other obligatory payments will be 108.9 billion soums. Due to the reduction of tax rates and reduction of the tax burden in the management of the company remains 38.6 billion soums.
In addition, if in 2018 the company paid property tax at a rate of 5 percent in the amount of 9 billion 99 million soums, then from January 1, 2019 as a result of tax reforms to reduction of the rate to 2 percent, the enterprise will pay 3 billion 640 million soums, that is, the enterprise will save 5 billion 459 million soums.
Due to the savings, in 2019 three large production projects will be built through foreign investment and credit lines in the amount of US$455.7 million. As a result of these projects, 1,516 additional jobs will be created.
Equipped with modern technologies, these complexes will allow Navoi chemists to increase production, reduce their cost, and ensure competitiveness. Due to the increasing need for chemicals in the international arena of national economy, these projects are of great importance for the development of the chemical industry in our country.
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