Mirziyoyev bans fines against certain entrepreneurs

President Shavkat Mirziyoyev announced a one-year moratorium on calculating and collecting fines from enterprises without state participation for overdue export debts. He made this statement today, August 20, during his open dialogue with entrepreneurs. 

It should be noted that due to unrest in certain regions, fluctuations in foreign markets, and disruptions in logistics, delays in export revenues have occurred. In such circumstances, entrepreneurs who are already struggling to receive payments are being charged fines for overdue receivables.

It was also stated that this issue was raised by many textile enterprises and fruit and vegetable exporters, who requested relief. The Head of State announced the solution that, from now on, a one-year moratorium will be introduced on calculating and collecting fines from enterprises without state participation for overdue export debts.

It was reported that last week, a meeting was held with representatives of more than 200 textile enterprises, during which support initiatives worth 7 trillion soums were announced. In the coming days, a "trusted exporter" program will be launched in the textile sector, and a system of pre-export financing will be introduced, with $200 million allocated for this purpose. The program will also be extended to other sectors with high export potential but underutilized opportunities, such as electrical engineering, construction materials, food production, and pharmaceuticals. Entrepreneurs in these fields will be provided with $500 million in working capital. In addition, 10 certified, competitive products from each sector will be granted the "Made in Uzbekistan" quality mark, and a large-scale promotional campaign will be launched to present them to the world.

Entrepreneurs in the textile sector who plan to relocate their enterprises from Tashkent and regional centers to districts with abundant labor resources and available land will be provided with loans of up to 10 billion soums. The President also stated that if enterprises from other labor-intensive sectors come forward with similar initiatives, they will likewise be supported.

To ensure the supply of affordable raw materials, blended fabrics and textiles will be exempt from customs duties until January 1, 2028. However, similar challenges exist in other industries as well. Experts from the World Bank have also emphasized that tariff policy should stimulate production. In preparation for the open dialogue, 130 applications were received from entrepreneurs across various sectors on this issue. The Head of State also instructed the deputy Prime Ministers responsible for the economy and investment to study the needs of each industry and regional enterprise by November 1, and to revise tariffs for other raw materials and components accordingly. From now on, compliance certificates in the import process will be issued not for each consignment, but for the entire volume specified in the contract.