Complexes for the production of garment and knitwear to be created in Uzbek regions

Tashkent, Uzbekistan (UzDaily.com) -- A presidential resolution was adopted on measures to organize the production of garment and knitwear products and provide employment for the population in the regions of Uzbekistan.

These complexes will be transferred to enterprises - members of the Association "Uztextileprom" or other business entities specializing in the production of garments and knitwear for a period of 5 years at a rate of not more than 10% on a leasing basis or for rent with a buyout condition.

Commercial banks will allocate short-term loans to finance the production of garment and knitwear products in the complexes.

Also, until January 1, 2022, projects carried out in the complexes are exempt from payment:

- income tax and property tax up to the day of transfer of the complexes on the basis of leasing or for rent with a repurchase condition;

- customs payments for the import of technological equipment, components, construction materials that are not made in the country.

Knitting enterprises, which are part of Uzpakhtasanoat JSC, have been granted the right to purchase cotton fiber at exchange trading.

Due to the projects implemented in the complexes, 80,880 new jobs will be created.