Starting from February 1, 2024, the presence of an authorized representative of the manufacturer is required when importing a number of household appliances such as irons, microwave ovens, washing machines, and air conditioners into Uzbekistan. Local companies producing electrical engineering will receive preferential loans, tax breaks and preferences.
The presidential decision “On additional measures to further increase the production and export potential of the electrical engineering industry” was adopted.
For the years 2024-2025, the main target indicators for the development of the electrical engineering network have been set. It provides for the following:
• increase the copper processing capacity to 140,000 tons in 2024 and 160,000 tons in 2025;
• increase the production volume of products to 30.8 trillion soums in 2024 and to 38 trillion soums in 2025;
• ensuring the export volume of products in the amount of $1.5 billion in 2024 and $2 billion in 2025.
Based on the decision, the list of products that require the presence of an authorized representative of the manufacturer or an official dealer providing a guarantee of quality, safety and service when importing to Uzbekistan from February 1, 2024 was approved. The list includes:
- aluminum radiators;
- water heating boilers;
- water heaters;
- steam boilers;
- vacuum cleaners;
- washing machines;
- refrigerators, freezers;
- televisions, monitors;
- household gas stoves;
- ovens for cooking;
- microwave ovens,
- irons;
- air conditioners;
- liquid pumps.
In order to finance investment projects in the electrical engineering industry, a credit line in the amount of $100 million will be opened to commercial banks in 2024-2026, based on their order, for a period of 10 years with a 3-year grace period, at an annual rate of 5%.
In this case, banks provide loans to entrepreneurs for 10 years with a 3-year grace period at an annual rate of 7% (including a 2% bank margin).
Until January 1, 2027, the rates of profit tax and property tax will be reduced by 50 percent for enterprises of the electrical engineering industry whose income from the sale of electrical engineering products is not less than 80% of their total income.
From April 1, 2024, in the framework of state procurement, when foreign suppliers as well as local producers participate, they will be given a price preference over the DDP (Uzbekistan) price of imported goods in the following amounts:
• 15 percent in case of participation of 3 or more local producers;
• 12 percent in case of participation of 2 local producers;
• 8 percent if 1 local producer participates.
