Economy Ministry Studying Problems of Processing Industry

The Ministry of Economy continues discussions with the business community to address the challenges to increase local production.

During meetings with representatives of the meat, dairy and winemaking industries in the Ministry of Economy, they studied challenges to increase their productive capacity. These efforts are aimed at reducing the country's dependence on import of certain products.

The Economy Ministry told Turan that during the meeting with representatives of 15 enterprises of meat and milk industry requirements were announced for preferential import of certain products (mixed feed materials) and equipment for production and packaging. The companies also suggest giving them lands suitable for agriculture for feed production.

Wineries need to stimulate the creation of enterprises focused on the production of import-substituting goods that are used in the wine industry.

The Milli Majlis on 19 January this year made amendments to the Tax Code, providing for tax exemptions for 7 years for investors who have received appropriate confirmation (in the form of a document to encourage investment) from the Ministry of Economy. ----08D