Ministry Of Commerce: Mirziyoyev Held A Working Conference To Support The Development Of Cotton Industry

On January 23, Uzbek President Mirziyoyev held a meeting on the same day to listen to the work report on the current situation and problems of cotton industry development and study measures to support industrial development.

The meeting pointed out that Uzbekistan has invested US $5.3 billion in the cotton industry and implemented 265 projects with a total value of US $4 billion. At present, cotton production has increased by 30%. However, the lack of stable supply contracts for farmers, the imperfect construction of irrigation water system, the rising price of fertilizer, and the overdue fine of VAT restrict the development of the industry. In order to solve the above problems, the meeting decided to provide 50% electricity compensation for cotton farmers who use water pumps for irrigation, extend the preferential import tariff policy for mineral fertilizers for three years, cancel the fine for overdue payment of cotton farmers' VAT, and instruct the relevant responsible persons to simplify the procedures for agricultural clusters to conclude contracts with cotton farmers, and integrate the futures contract registration system with the information platform of the Ministry of Agriculture. The meeting set a goal for the industrial development in 2023, requiring the launch of multiple projects with a total value of 400 million US dollars, the establishment of agricultural service centers in 33 regions, the promotion of water-saving technology for 300000 hectares of land, the allocation of 100000 hectares of land and the guarantee of 26000 tons of cocoons, 1.3 million pieces of sheepskin, and 40000 tons of wool output.