Uzbekistan has developed an integrated system of privileges and preferences to support domestic exporting enterprises in the conditions of global economic crisis, and stimulate the production of export-oriented goods.
For example, micro firms and small businesses are exempt fr om mandatory sale of foreign currency proceeds from exports of their own goods, works and services. Customs rate for registration of export of goods is reduced twice. Prices are notably reduced, and the process of registration of export documents is simplified for export enterprises in processing foreign exchange operations.
A stepwise mechanism of customs agreements is based on ‘single window’ service for processing documentation, declaration, certification, sanitary and epidemiological control and other customs procedures.
The government also assigned specialized agencies to support export companies in promotion and delivery of goods to foreign markets, standardization and certification of products of small businesses. The list of such agencies includes the Fund to Support Exports of Small Businesses and Private Enterprises.
Along with that, domestic producers of goods, works or services have been entrusted with participation in international tenders on the projects that are carried out in Uzbekistan and funded by international financial institutions, donor countries, foreign governments and other non-residents, on an equal footing with foreign participants. At the same time, they are empowered for entering into direct contracts in foreign currency for the supply of manufactured goods, works and services.
As of April 1, 2012, exporting companies are exempt from the mandatory sale to authorized banks of the foreign exchange earnings that are channeled by current payments to repay the principal foreign currency loans for new construction, modernization and technological upgrade of operating facilities, for the period prior to the full repayment of the principal debt. The related resolutions assigned commercial banks to increase the volume of factoring services on export transactions, and extend the time lim it of factoring services on export operations from 60 to 90 days.