The President of Uzbekistan Shavkat Mirziyoyev has approved a program of measures on the establishment of up-to-date production of children’s accessories and toys in Tashkent
The new production cluster will be created on the basis of the former Tashigrushka plant with an area of more than 12,000 square meters. The territory has been idle for a long time; most of the production lines and infrastructure have become completely unusable and do not function.
The head of state assigned to transfer the facility to the National Bank for Foreign Economic Affairs, namely to its management company NBU Investment at a cost determined by the appraisal company, under the condition of attracting investments and organizing a manufacture of children’s accessories and toys.
It is expected that the Tashigrushka plant will host various enterprises with the participation interest of NBU and other investors. In the future, the National Bank may sell its shares in those companies for currency.
By March 1, 2018, the management company should attract investment and organize the production of high-quality state-of-the-art domestic children’s accessories and toys, oriented to both domestic and foreign markets.
It will also be responsible for the preservation and rational use of the facility, loading of production capacities, sustainable financial and economic operations of the enterprises, which will be established on the basis of the facility until they are sold to new investors.
President Shavkat Mirziyoyev provided investors with a broad range of benefits. The enterprises on the basis of the Tashigrushka plant will be exempt from income tax, single tax payment, property tax, land tax until they are sold to a strategic investor.
However, the privileges will be valid for three years from the moment of their state registration, and all released funds should be compulsorily channeled for technical and technological extension, modernization and development of production.
(Source: «Uzbekistan Today» newspaper)
