New projects to be implemented at electrical enterprises
In 2019-2021, 22 investment projects will be implemented on technical and technological upgrading of existing and creation of new electrical production facilities at the amount of 153.8 million USD.
Last year, the volume of investments in electrical industry amounted only 0.8 percent of the total investments in the country, and the volume of electrical products production in the structure of GDP – 1.5 percent. The limited resource base in this industry leads to an increase in production costs.
At the same time, the absence of a mechanism for providing a deferment and offsetting for value added tax when importing raw materials and components leads to diversion of working capital and an increase in costs of exporting organizations.
Measures on eliminating such accumulated problems are indicated in the resolution of the President of the country “On measures for further development and increasing the export potential of the electrical industry” of January 4, 2019.
In order to clarify the essence and significance of this resolution, “Uzeltechsanoat” Association organized a briefing for mass media representatives, in Tashkent.
As it was noted at the briefing, in 2019-2021, 22 investment projects will be implemented on technical and technological upgrading of existing and creation of new electrical production facilities at the amount of 153.8 million USD. In the next two years, the volume of production of finished electrotechnical and electrical products with high value-added will be increased by 2 times. It is envisaged to bring the volume of exports of finished electrotechnical and electrical products to 400 million USD.