Tashkent, Uzbekistan (UzDaily.com) — During the session of the Legislative Chamber of the Oliy Majlis, a draft law aimed at further developing the jewelry industry was approved in the second reading.

The bill includes several amendments to legislative acts designed to meet the needs of jewelry manufacturers for precious metals, create a favorable business environment, and liberalize bureaucratic barriers.

In particular, the bill proposes exempting jewelry manufacturers who are members of the "Uzbekzargarsanoati" association from property and land taxes until 1 September 2027.

The draft law also grants refining enterprises the right to sell precious metals in forms and quantities convenient for jewelry manufacturers, and allows the production and sale of souvenir coins made from precious metals.

Jewelry manufacturers will be given the right to sell their semi-finished products to other manufacturers. Additionally, it is stipulated that the acquisition of precious metals and products from legal and physical entities will be carried out through notification to the authorized body.

The bill also introduces a ban on selling jewelry produced abroad unless it has documents confirming the payment of customs duties.

The adoption of the bill aims to develop the jewelry industry, support manufacturers, protect their rights and interests, and enhance export potential.

The bill was approved by deputies in the third reading.