In particular, it is expected that jewelers will be able to acquire metals at a 2% discount from the current world price set by the London Bullion Market Association.
Pawnbrokers and buying points will have the opportunity to sell to the state:
- jewelry;
- scrap precious metals;
- precious stones.
As noted by the head of the State Tax Service of the Kyrgyz Republic, Almambet Shykmamatov, the jewelry industry is strategically important for Kyrgyzstan.
He emphasized: "Although we do not have oil and gas, we have significant gold reserves, and it is necessary to use this resource as efficiently as possible. Unfortunately, for many years the jewelry industry has remained in the shadows, not receiving the proper attention and support from the state."
Shykmamatov also reported that, at the direction of the president, a comprehensive set of measures has been prepared to support the jewelry sector. One of the key aspects will be the introduction of a preferential tax regime for enterprises, which will create more favorable conditions for jewelers and promote gold processing in the country.
According to him, "Our goal is to give the industry a strong impetus for development and bring it out of the shadows. We hope that the new initiatives will help create jobs, increase export volumes, and strengthen Kyrgyzstan's position in the international jewelry market. The state is ready to support those entrepreneurs who will engage in the processing and production of jewelry."
Earlier, the Deputy Head of the State Tax Service, Kubanychbek Ysabekov, reported that Kyrgyzstan annually extracts up to 26 tons of gold; however, 90% of the jewelry products in local stores are foreign products.
