New subsidies announced for cotton producers in Uzbekistan

Farmers who sold cotton via the exchange and clusters that purchased it will receive a subsidy of 500 thousand soums per ton. Clusters growing cotton on their own land plots will be able to receive a subsidy of 1.5 million soums per hectare.

The president also instructed the responsible agencies to submit calculations for a three-year compensation of part of the interest on loans for exporters of finished products. It was proposed to cover rates exceeding 5% per annum on foreign currency loans and exceeding 14% on loans in the national currency. In addition, the authorities will develop proposals for a 3% rebate on the value of textile goods sold through electronic trading platforms (marketplaces).

The meeting also announced plans to support enterprises with 1,000 or more employees: they are eligible for compensation of up to 50% of the costs of employee training and transportation, and for those who have worked for at least five years, payment of tuition contracts for their children. For the foothill areas of Andijan Region, the Agrostar company will be established to plant commercial orchards, for which $30 million will be allocated, along with 200 billion soums for water supply.