As reported by Spot, Shavkat Mirziyoyev held a meeting focused on investments and increasing exports. The President announced plans to attract funds from international financial markets.
The head of state emphasized the importance of free economic zones. In 2024, products worth 42 trillion sums were produced in these zones, yet only 16% of that consisted of high-tech goods, and 18% was directed towards exports.
Out of the 589 companies operating in the free economic zones, more than half did not export any products last year. The incentives offered did not result in reduced production costs or increased exports. Officials have been tasked with proposing measures to reorient the zones towards export.
New free economic zones are planned to be established, specializing in the production of in-demand goods with high added value for foreign markets. The first such zone will be located in Namangan and will focus on textile products.
It was noted that the experience of transferring 12 technoparks to the management of companies from China, Turkey, and Russia allowed for the implementation of 27 projects worth $2.5 billion. The goal is to propose the creation of technoparks with foreign investments on the unused lands of the free economic zones.
This year, there are plans to increase commodity exports to $30 billion. The President highlighted the potential for increased supplies abroad in the textile and electrical engineering sectors, and also announced new measures to support exporters in these fields.
To ensure their access to working capital, a special factoring company will be established with $100 million at its disposal. Additionally, exporters will be reimbursed up to $20,000 for expenses related to obtaining international compliance certificates.
Imported laboratory equipment for research centers will be exempt from customs duties. $2 million will be allocated for promoting Uzbek products on global marketplaces.
Furthermore, the use of market mechanisms in cotton farming will be expanded. Clusters will provide information on the demand for cotton and the prices offered, allowing farmers to choose a cluster and enter into futures agreements with them.
For farmers who repay their preferential loans by the end of the year, a 4% cashback on the loan amount will be introduced—effectively reducing the interest rate to 6%. If a producer did not take a loan and cultivated cotton independently, they will be eligible for a 10% subsidy.
Previously, Spot reported on the expansion of the Eltech Industrial technopark in Akhangaran by 106 hectares.