The volume of investments in electrical industry in the previous year amounted to only 0.8 percent of the total investments in the country, and the production volume of electrical products in the structure of GDP – 1.5%.
It should be noted that the limited resource base in this industry leads to an increase in production costs.
Furthermore, the absence of a mechanism for providing a deferment and offsetting for VAT when importing raw materials and components leads to diversion of working capital and an increase in costs of exporting organizations. Measures on eliminating such accumulated problems are indicated in the resolution of the President of the country “On measures for further development and increasing the export potential of the electrical industry” of January 4, 2019.
“Uzeltechsanoat” Association organized a briefing for mass media representatives in Tashkent in order to clarify the essence and significance of this resolution.
As it was noted at the briefing, in 2019-2021, 22 investment projects will be implemented on technical and technological upgrading of existing and creation of new electrical production facilities at the amount of 153.8 million USD. In the next two years, the volume of production of finished electrotechnical and electrical products with high value-added will be increased by 2 times. It is envisaged to bring the volume of exports of finished electrotechnical and electrical products to 400 million USD.
