On March 26-27 this year, the Republican Commission for the Development of Export Potential in Regions and Industries conducted the work in the Andijan Region. Members of this Commission discussed the current activities of local entrepreneurs and exporters, as well as opportunities to implement targeted measures to support them in an unstable economic environment caused by the coronavirus infection.

The working groups composed of representatives of ministries, departments, commercial banks and local authorities visited each enterprise in districts and cities of the region, communicated with entrepreneurs, studied the current business of enterprises and assessed the impact of the crisis caused by the global spread of the pandemic. The problems identified were analyzed and discussed at the inter-ministerial level together with the development and implementation of targeted support measures.

As a significant number of identified problems needed financial support for the business, heads of commercial banks were also involved and participated in the work in cooperation with investment project initiators and exporters.

Now promising business ideas and proposals from entrepreneurs and the local population are collected. On their basis non-standard solutions will be developed to reduce the negative impact of external economic factors on small and medium-sized businesses, as well as to create additional opportunities for self-employment and stabilization of financial situation of the population.

During the work in the Andijan Region, commission’s members studied the business of 615 enterprises in the region, as a result of which 270 problems were identified, including 111 cases related to the need for loans restructuring, 44 cases related to the allocation of lands, empty buildings and structures, 55 cases related to obtaining of loans, and 20 cases related to delay in the arrival of foreign specialists in Uzbekistan to install process equipment.

According to the analysis of all 341 exporting enterprises, 94 entrepreneurs had problems, where 43 of them pertained to prolongation of loan repayment terms, 38 ones were about obtaining of new loans, 13 of them pertained to allocation of lands, empty buildings and structures, and connection to utilities.

The Commission in close cooperation with ministries, departments, commercial banks and local authorities gave consideration to all the above problems and solved them promptly.

Some commercial banks were reserved to three regions of the Ferghana Valley and received instructions to study the existing industrial and agricultural potential and develop new investment proposals. Banks were also instructed to provide loans, and the time to review a credit file must not be more than 3 working days. This will ensure urgent satisfaction of enterprises’ current demands for working capital.

The State Tax Committee will promptly conduct an inventory count of value-added tax previously charged to exporting enterprises and ensure its reimbursement. Moreover, the State Tax Committee, together with the Ministry of Finance, will develop an automated system for VAT refund to exporting enterprises.

Summing up the interim work results in the Andijan Region, the Commission went to Namangan region to take urgent measures to support the entrepreneurs.