In accordance with the new rules, jewelers in Kyrgyzstan will be able to obtain precious metals under special conditions.
The discount on metals will be 2% off the world price.
Prices will be determined according to the standard set by the fixing of the London Bullion Market Association (this is the generally accepted world price for gold and other precious metals).
Pawnbrokers and buying points will be able to sell to the state:
- jewelry;
- scrap precious metals;
- precious stones.
The head of the State Tax Service of the Kyrgyz Republic, Alambet Shykmamatov, emphasized the strategic importance of the jewelry industry for the country in an interview with Kaktus.media.
"Considering that Kyrgyzstan has no oil and gas reserves, our rich gold-bearing resources must be used as efficiently as possible. Unfortunately, the jewelry industry has long remained in the shadows, not receiving the necessary attention and support from the state," he noted.
Shykmamatov also reminded that, by the order of the President of the Kyrgyz Republic, a set of measures has been prepared for the development of the jewelry industry. One of the main tools will be the introduction of a preferential tax regime for enterprises in this sector, which will create favorable conditions for jewelers, help develop gold processing within the country, and increase added value.
"Our goal is to give the industry a powerful impetus for growth and take it to a new level. We hope that the new measures will create jobs, increase exports, and strengthen Kyrgyzstan's position in the international jewelry industry arena. The state is ready to support businesses that will develop processing and production of jewelry in the country," he added.
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 jewelry products in local stores are foreign goods.
