Loans of up to $ 500,000 will be provided to support young entrepreneurs

The President of the Republic of Uzbekistan signed a decree "On additional measures to support participants in foreign trade".

According to him, in order to further support youth entrepreneurship, including the production of export-oriented products and services based on innovative technologies, the Fund for Support of Young Entrepreneurs will be funded in accordance with the decision of the Government Commission. They will be allowed to receive loans of up to $ 500,000.

Also, from April 1, 2022 to April 1, 2023:

subsidies to local enterprises (their authorized representatives) to reimburse up to 70% of transportation costs when exporting high value-added products to EU countries;

subsidies of up to 50% of transportation costs are provided for the export of high value-added products exported to neighboring countries;

the costs associated with the accreditation of conformity assessment bodies by an accreditation body that is a member of international ILAC / IAF organizations shall be reimbursed by the Export Promotion Agency;

the amount of prepayment required by business entities for the export of goods (except for special types of goods), works and services on the basis of invoices (contracts) without a contract will be reduced from 100% to 50%.

In addition, the Government Commission on Foreign Trade, Investment, Local Industry Development and Technical Regulation monitors the targeted and efficient use of the Export Promotion Fund.