Deputies of Tajikistan’s lower chamber (Majlisi Namoyandagon) of parliament have voted for ratification of an investment agreement for construction of Tajik-Uzbek joint home appliance manufacturing enterprise in Dushanbe.
A regular sitting of the Majlisi Namoyandagon, presided over by its head, Shukurjon Zuhurov, was held on January 22.
The agreement, in particular, provides for exempting the joint venture from paying the value added tax (VAT), profit tax and customs duties during five years.
The investment agreement on construction of the Tajik-Uzbek joint venture Artel Avesta Electronics in Dushanbe was signed between the Government of Tajikistan, Tajikistan’s Avesta Group LTD and Uzbekistan’s Artel Engineering and Management LTD.
A total cost of the project is reportedly 10 million U.S. dollars.
The Tajikistan-Uzbekistan joint venture Artel Avesta Electronics is expected to begin manufacturing hoovers and water heaters under the Artel brand in spring this year, and at the end of the year, the enterprise will begin manufacturing TV sets and washing machines under the Artel brand. .
Construction of workshops and installation of equipment have been completed. The workshops have been constructed in Dushanbe, on the Huvaidulloyev Street not far from the Yovar Shopping Center.
The joint venture is also expected to supply its products to Afghanistan and Pakistan.
Established in 2011, Artel is a large manufacturer of home appliances in Uzbekistan. Establishment of a new business line is reportedly based on signing a strategic cooperation contract with recognized leaders in this field, namely: Samsung, South Korean brand, Midea, well-known Chinese company, Gloria, one of the best Italian manufacturers, and Odul, major Turkish producer.
Today Artel offers the following goods: air conditioners; vacuum cleaners; microwave ovens; gas, electric and combined stoves; built-in kitchen appliances; electric mini-ovens; TV sets; washing machines; refrigerators; cellular phones; and consumer electronics.
