NEWS AND EVENTS
November 22, 2013
11 thousand modern houses to be built in rural areas of Uzbekistan in 2014
On November 15, 2013 the President of Uzbekistan Islam Karimov signed a decree \"On the Program for construction of individual housing on model projects in rural areas in 2014\".
The document was adopted in order to drive economic transformation and accelerate rural development, improve the architectural and planning appearance of rural communities, the quality of life of rural populations through expansion of rural housing construction on modern house designs.
According to the Decree, in 2014, 11 thousand houses on modern designs under \"turn–key” terms will be built in rural areas of Uzbekistan.
The construction will be financed through the loan of Asian Development Bank in the amount of $100 million of the second tranche of the $500 million multitranche financing facility of the Housing for Integrated Rural Development Program.
Qishloq Qurilish Bank, the National Bank for Foreign Economic Activity of the Republic of Uzbekistan, Ipoteka Bank will open credit lines in national currency for a period of 15 years, including 5-year privileged period, at an interest rate of 3 percent per annum.
Apart from that, the necessary investments for the construction of internal and access roads are provided by the Republican Road Fund under the Ministry of Finances of Uzbekistan.
In rural areas, it is also scheduled to build social and market infrastructure facilities, transport communications and external engineering networks.
By the Decree, UzPromMashimpeks is exempt till January 1, 2015 from customs duties (except customs fees) for imported roofing sheets, as well as value-added tax on imported lumber, splint-slab plates for their sale to the engineering company Qishloq Qurilish Invest.
Subcontractors are also exempt from the single tax payment till January 1, 2015 in the amount of work performed by them under contracts with contractors that have concluded agreements with the engineering company Qishloq Qurilish Invest in the context of the construction of modern houses in rural areas.
During this period, enterprises manufacturing building materials as specified in the Decree are exempt from all taxes, mandatory contributions to state funds (except for the single social tax) and the Fund for the reconstruction, refurbishment and equipping of educational and medical institutions.