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On July 23, the President signed a decree on developing the jewelry industry and ensuring its competitiveness. Report Ministry of Justice Press Office.
By the end of 2025, it is planned to increase the annual production of jewelry and other precious metal and gemstone products to US$1 billion and exports to US$100 million.
The document states that in 2024-2026, one jewelry center will be established in the Bukhara and Namangan regions, two jewelry centers will be established in Tashkent, and the necessary infrastructure for entrepreneurs will be created.
By January 1, 2025, state-owned real estate objects will be rented out to corporate entities and commercial banks as a whole property or in blocks (parts, rooms) based on long-term leases or property rights, and the implementation measures for the split value will include: adopting the installment payment method.
When precious metals are sold to manufacturers in jewellery centres established under the Act, with conditions of delayed payment:
- No interest will be charged if payment is made within 90 days;
- The portion paid from the 91st to the 180th day will be charged interest at an annual rate of 3%.
️From August 1, under the customs regime “temporary export”, presentation of finished jewelry for export at foreign exhibitions and fairs will be charged a fee of 1x BHM (340 thousand soums).
From October 1, 2024 to October 1, 2027, equipment, packaging and labeling products not produced in Uzbekistan and used in the jewelry industry will be exempt from customs duties.
From November 1, it is prohibited to sell and market jewelry made abroad without documents confirming the payment of customs duties. However, this procedure does not apply to jewelry officially approved (imported) before September 1, 2024.
Precious metal scrap and metals plated with precious metals are special categories of goods that are exported under license.
Semi-finished jewellery that has not been verified for authenticity is prohibited from being exported outside the customs territory of Uzbekistan.
Individuals who have not filled out a passenger customs declaration may carry up to 200 grams of silver and up to 65 grams of gold and other jewelry made of precious metals. Jewelry weighing more than these weights is allowed to be taken out of the customs territory in accordance with the passenger customs declaration to Uzbekistan.
We remind you that according to the presidential decree, in November 2023 it will be allowed to export jewelry worth up to 100 million soums without filling out a declaration form. Once allowed.
As of January 1, 2027, import duties on finished jewelry into Uzbekistan will be reduced from 20% to 10%.
By January 1, 2025, branches providing rapid verification of jewelry authenticity will be established in Tashkent, Bukhara, Namangan, Samarkand and Khorezm regions.
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