Live­stock to Get a Sub­stan­tial Boost

Uzbekistan Today (English) - - BUSINESS - Hur­shid Ra­sulov

In 2017-2022, Uzbek­istan in­tends to in­vest more than $227.8 mil­lion in live­stock devel­op­ment.

It is en­vis­aged to im­prove vet­eri­nary ser­vices, and pro­vide credit support to live­stock farms for the pur­chase of ad­vanced tech­nolo­gies.

The other day, Pres­i­dent Shavkat Mirziy­oyev has ap­proved the fea­si­bil­ity study for this ini­tia­tive. The doc­u­ment stip­u­lates that it will be funded through a $30 mil­lion loan of the In­ter­na­tional Bank for Re­con­struc­tion and Devel­op­ment, and a $120 mil­lion loan of the In­ter­na­tional Devel­op­ment As­so­ci­a­tion. The Board of Di­rec­tors of the World Bank has al­ready ap­proved the pro­vi­sion of these funds with a ma­tu­rity of 25 years, in­clud­ing a fiveyear grace pe­riod.

In six years, the con­tri­bu­tion of Uzbek­istan will to­tal $77.82 mil­lion, in­clud­ing $39.74 mil­lion of granted ben­e­fits for taxes and cus­toms pay­ments, fi­nan­cial charges dur­ing the in­vest­ment pe­riod, and other costs, as well as $38.08 mil­lion of con­tri­bu­tions of stake­hold­ers.

The project will cover all re­gions of the coun­try, in­clud­ing Karakalpak­stan. The Min­istry of Agri­cul­ture and Wa­ter Re­sources was ap­pointed as the ex­ec­u­tive body, which will be re­spon­si­ble for its timely and com­plete im­ple­men­ta­tion, as well as mon­i­tor­ing.

The head of state has re­leased goods, works, ser­vices and ve­hi­cles, which are pro­cured for the funds of in­ter­na­tional in­sti­tutes, from cus­toms du­ties, value added tax, manda­tory de­duc­tions and fees to state tar­get funds.

More­over, these ben­e­fits also ap­ply to goods, works and ser­vices pur­chased by farms and agri­cul­tural or­ga­ni­za­tions for re­fi­nanced funds. The re­leased funds will be the coun­try's con­tri­bu­tion to the project.

Non-res­i­dent par­tic­i­pants of the project are ex­empted from per­sonal in­come tax. At the re­quest of the Min­istry of Agri­cul­ture and Wa­ter Re­sources, the Min­istry of For­eign Af­fairs of the Repub­lic should en­sure the reg­is­tra­tion of en­try visas for them with­out levy­ing con­sular and other fees. For­eign spe­cial­ists are also re­leased from pay­ing a state duty for reg­is­tra­tion of a tem­po­rary res­i­dence per­mit in the coun­try.

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