Some entrepreneurs may be exempted from profit and property taxes for 3 years

On January 11, President Shavkat Mirziyoyev reviewed the achievements and outlined key tasks for the electrical engineering sector. The announcement came via the Presidential Press Service.  

The sector currently accounts for 3.5% of industrial output and 10% of export goods, with last year’s production valued at 31 trillion sums and exports reaching $1.3 billion. Additionally, $516 million in investments were absorbed, and 85 new enterprises were launched, creating jobs for over 27,000 Uzbeks.  

The "Uzeltexsanoat" association announced ambitious plans for this year, including:  
- Launching 290 new projects worth $4 billion across regions.  
- Absorbing $600 million in investments.  
- Increasing copper processing levels to 75%.  

To support these goals, 200 hectares of land have been allocated in Ahangaran, 10 hectares in Fergana, and 4 hectares in Urgench to expand electrical engineering clusters. Infrastructure developments valued at 181 billion sums have also been completed.  

President Mirziyoyev proposed significant tax incentives:  
- Entrepreneurs establishing high-tech production in designated technoparks may be exempt from profit and property taxes for three years.  
- Entrepreneurs will also be allowed to construct and sell finished buildings within technoparks to enterprises in the sector.  

These measures aim to promote projects such as a $68 million initiative in the Ahangaran copper cluster and $30 million investments in Kashkadarya, Fergana, and Urgench.  

A 15 trillion sum market is being secured to promote the sale of products across ministries and industrial sectors. Additionally, social facilities will be required to purchase renewable energy devices from local enterprises.  

Highlighting the sector’s importance for the green economy and sustainable development, the President emphasized:  
- Expanding regional infrastructure, finance, and raw material access.  
- Increasing production to 50 trillion sums and exports to $3 billion annually.  
- Developing innovative, marketable products.  
- Training skilled engineers, technologists, and specialists to support the sector's growth.  

With these measures, Uzbekistan aims to enhance its competitiveness in the electrical engineering sector while fostering sustainable industrial and economic development.