Sunday, 16, December, 2018

The Cabinet of Ministers with its Feb 15 decision approved the creation of the Defense Industry Development Fund within the Uzbekistan's Committee for Defense Industry.

The fund's resources will be formed from the central budget, as well as commission fees paid to the Committee for Defense Industry. In particular, through payments of 1% of the cost of import supply contracts of weapons and military equipment and sale of military and dual-use products.

In addition, the Fund will receive 30% of the value of military equipment sold overseas and full cost of licenses issued by the committee.

The fund’s money will be used to finance programs and projects in the defense-industrial complex, finance activities aimed at developing and modernizing the weapons, military equipment and military-technical equipment.

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2018-11-30