President holds meeting with Namangan entrepreneurs

An open dialogue took place in Namangan city to discuss plans for socio-economic development of the region.

Entrepreneurship support was given priority at the meeting. According to analysis, due to cold weather this winter production at 3 thousand industrial enterprises in the region was reduced. Tax debts of many businessmen have also increased.

Because of this, the President announced that he has signed a special resolution to compensate losses in the economy and support business. The document envisages preferential terms for loans, taxes, customs duties and other payments for businesses which suffered from the cold weather.

In particular, for 2,000 small and medium-size businesses the term of repayment of loans worth 4.7 trillion soums, repayable in January-March, will be extended until 1 June. Twenty-nine thousand entrepreneurs will have an opportunity to repay tax debts of 2 trillion soums by July 1 in installments, without interest, additional collateral and penalty charges.

A credit line of 8 trillion soums will be opened for 545 industrial enterprises to restore production and replenish working capital. Preferential rates for payments for the acquisition and lease of State property are also provided for. A 10 per cent property tax rebate will be introduced for entrepreneurs for each top floor of industrial buildings. These opportunities were welcomed by entrepreneurs.

"Thanks to the development of Namangan's economy this year, we have set a big goal to provide jobs for about 500,000 people. These plans can be implemented only by relying on and supporting entrepreneurs," the head of state said.

This year, preferential loans worth 950 billion soums, or twice as much as last year, will be provided for family businesses in the region. A special textile zone will be created and 75 billion soums will be allocated for the infrastructure of 15 industrial zones. Also, at least 2 micro-centres will be launched in each district.