The American-Uzbekistan Chamber of Commerce (AUCC) seeks to promote trade and investment ties, cultural exchanges and bonds of friendship between the United States of America and the Republic of Uzbekistan. In performing these functions, the AUCC places primary emphasis on serving the needs and interests of its members.

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Uzbekistan introduces incentives for jewelry industry

25 February 2021

A recent decree signed by the Uzbek government enables producers to buy precious metals on the basis of a direct contract or with the condition of deferred payment for 5 months, the document is valid until March 1, 2023.

According to the new procedure, the sale of precious metals to jewelry companies in the form of raw materials will be carried out by Navoi and Almalyk mining and metallurgical plants, on the basis of a direct contract or through the commodity exchange with the condition of deferred payment for a period of 180 days and 15% prepayment of the product cost. The companies were also allowed to sell measuring ingots of their own production.

To do this, companies must provide a guarantee of the "National Bank" on obtaining a micro-loan for the purchase of equipment, spare parts and raw materials for production needs and replenishment of working capital. The loan in the amount of up to over $28 thousand is issued for a period of three years, including a grace period of up to six months.