Friday, 14, August, 2020

The President Shavkat Mirziyoyev signed the Urgent Measures to Support Textile and Ready-Made Garment Industry Decree on Monday.

According to the decree:

- in order to further support textile enterprises and clusters, increase the competitiveness of products, a transition to global commodity exchange prices will be conducted, which will reduce the cost of raw materials by 10 percent;

- the final payment deadline for cotton fiber sold in the domestic market before April 1 is extended from 90 to 150 days;

- VAT shall be refunded in full as soon as goods exported by textile enterprises leave the country;

- 64 types of raw materials crucial for the industry shall be waived from paying customs duties.

It is also planned to sharply increase the export of products, to create large - with at least 1 thousand workers - modern textile and RMG clusters that will manufacture products under international brands.

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