A videoconference meeting chaired by President Shavkat Mirziyoyev was held to discuss the construction materials industry. The financial health of 457 enterprises and measures to support them were on the agenda.

It was noted that investors in large and mega-projects are requesting exemption from value-added tax (VAT) on imported construction materials. Meanwhile, local producers have also expressed readiness to supply their products to these projects.

Representatives of local enterprises stated that if VAT benefits are extended to domestic products, they are ready to compete with imports in terms of quality and standards. Consequently, officials were instructed to draft a decision ensuring equal conditions for imported and local goods.

Currently, the overdue loan debt of the 457 enterprises has reached 3.5 trillion soums. The main reasons are high production costs and a lack of alignment with market demand, making it difficult to find buyers.

Officials were tasked with developing short-term financial recovery programs for each enterprise and allocating $50 million for this purpose. The funds will be used to modernize production capacities, reduce costs, and manufacture products in high demand.

Source: www.gazeta.uz