Individual entrepreneurs in Uzbekistan will be allowed to officially trade in jewelry: new measures to support the industry

Uzbekistan has approved a package of new measures aimed at developing the jewelry industry and supporting craftsmen working in this segment. According to the decision announced at the meeting on industrial policy under the chairmanship of President Shavkat Mirziyoyev, individual entrepreneurs will now be officially allowed to trade in precious metal products.

We are talking about legalizing the activities of many jewelers who previously operated outside the legal field, mainly in markets and in private retail outlets. The President instructed the relevant departments to prepare legislative initiatives that will allow such masters to work legally in the status of individual entrepreneurs. This step is aimed at streamlining the jewelry market and creating transparent conditions for the development of small businesses in the industry.

A number of new compensation and incentive mechanisms were also announced to support jewelers. So, the state is ready to reimburse expenses up to 2.5 thousand US dollars, provided that foreign specialists are involved. One of the key requirements for obtaining such compensation will be the training of at least five students — this will not only improve the skills of masters, but also form a talent pool in the industry.

In addition, funding of up to 30 thousand dollars is provided for establishing partnerships with international jewelry brands and implementing modern design solutions. These measures should help strengthen the competitiveness of national producers in foreign markets.

An important decision was also made to exempt from paying import duties on the import of jewelry equipment and its components. This measure is designed to facilitate the transition to the industrial format of jewelry production, as well as create more favorable conditions for the modernization of workshops and the introduction of modern technologies.

Special attention is paid to providing the industry with raw materials. It was announced that the mechanism for purchasing gold in installments from Navoi and Almalyk mining and metallurgical plants has been extended for another three years. This will allow producers not only to plan purchases on a long-term basis, but also to allocate financial resources more efficiently.

The measures taken indicate a strategic approach to the development of the jewelry industry in Uzbekistan. Legalization of small producers, access to modern equipment, support in design issues and international cooperation create conditions for the formation of a sustainable and competitive sector that can not only meet domestic demand, but also enter foreign markets.