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New challenges in growing time. Perspectives of leasing i n Uzbekistan

New challenges in growing time. Perspectives of leasing i n Uzbekistan. by Mr. Zafar Mustafaev, . CEO of Uzbek Leasing International. General Director of Association of Uzbekistan Lessors. Progress of leasing in Uzbekistan.

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New challenges in growing time. Perspectives of leasing i n Uzbekistan

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  1. New challenges in growing time.Perspectives ofleasing in Uzbekistan by Mr. Zafar Mustafaev, CEO of Uzbek Leasing International General Director of Association of Uzbekistan Lessors

  2. Progress of leasing in Uzbekistan • 1993 – National airline of Uzbekistan purchased via leasing 10 airplanes (Boeing, Airbus, RJ) • 1995 – establishment of the first leasing company “Uzbek Leasing International A.O.” • 1999 – adoption of the Law “On Leasing” • 2001 – creation of the Working Group with participation of IFC’s Leasing Project for improvement of leasing legislation in Uzbekistan • 2002 – The Presidential Decree on measures for further stimulus of development of leasing • 2003 – amendments to the Economic Procedural Law of Uzbekistan on the issue of the leased asset repossession • 2004 – resolution by the Cabinet of Ministers of the Republic of Uzbekistan on accelerated depreciation during the leasing • 2005 – established the Association of Uzbekistan Lessors • 2006 – The Presidential Decree on developingof services industry www.leasing.uz

  3. Why Leasing • Technological equipment imported for leasingis exempt from VAT and customs duties • Object of leasing are exempt from the property tax • Lease payments released of VAT • Taxable income of the Lessee is reduced for the amount of interest on lease. Lessee deducts all the interest amount (lessor’s income) regardless of the leasing period • Opportunity of use of accelerated depreciation • Leasing services exempted from profit tax untilApril 01, 2009 www.leasing.uz

  4. What we have today? Volume of internal leasing inmillion USD www.leasing.uz

  5. agricultural machinery printing 32% 5% computer & office equipment construction 1% 9% manufacturing medical equipment equipment light industry 1% 27% 8% real estate 13% food production 4% passenger vehicles 10% other 0.3% trucks 3% other 14% Which sector is more important for the Lessees ? Types of equipment, given on lease basis (all lessors, excluding Uzselhozmashleasing ) www.leasing.uz

  6. Who are the players on Uzbekistan leasing market • Lease Companies • Asia – Europe Trust Company • Association of Business Women of • Karakalpakstan • Asaka-Trans Leasing • Baraka Leasing • Business Leasing • Express Leasing • Kurilish Leasing • Poytaht Leasing • Uzbek Leasing International AO • Uzagrocaseleasing • Uzselhozmashleasing • Uzavialeasing • Uzavtosanoatleasing • Zamin Invest • Banks • Aloka Bank • Asaka Bank • Capital Bank • Galla Bank • Ipak Yuli Bank • Ipoteka Bank • NBU • Pahta Bank • Ravnak Bank • Savdogar Bank • Microcredit Bank • Turon Bank • Uzpromstroybank • UzKDBank • Khalk Bank • Khamkor Bank www.leasing.uz

  7. Uzbekistan Lessor’s Association • Uzbekistan Lessor’s Association was established in 2005 • Mission - to create conditions for development of leasing services in the • Republic of Uzbekistan for effective realization of economic reforms • implemented in Uzbekistan. • There are 19 members in Association: • Asaka-Trans Leasing Asia – Europe Trust Company • Baraka Leasing Asaka Bank • Business Leasing Capital Bank • Express Leasing Ipak Yuli Bank • Kurilish Leasing Ipoteka Bank • Poytaht Leasing Pahta Bank • Uzbek Leasing International AO Microcredit Bank • Uzselhozmashleasing Hamkor Bank • Uzavialeasing Zamin Invest • Uzavtosanoatleasing www.leasing.uz

  8. First Leasing Company • Operations on the leasing market since 1996 • Paid-up capital USD 6 million • Solid shareholders: • 15 % 35 % • 15 % 35 % • Over 140 projects has financed and total amount of USD 25 million • Internal funds, credit lines from NBU, IFC, EBRD, CDB and export • credit agency www.uzbek-leasing.com

  9. Portfolio Structure – Industry Sectors www.uzbek-leasing.com

  10. Portfolio Structure – Project Size in % from number of projects www.uzbek-leasing.com

  11. Portfolio Structure – Supplier Countries www.uzbek-leasing.com

  12. What equipment is most wanted in Uzbekistan? • Compact and mini-technological equipments for small and private entrepreneurship • Car leasing • Cotton spinning and textile industry • Processing of agricultural products • Construction equipment • Special vehicles, trucks and buses • Telecommunication www.leasing.uz

  13. Why Leasing in Uzbekistan? • One of the best legislative bases on leasing in the world: • Simplified system for registration and taxation of leasing companies • Leasing activity is not licensed • Availability of tax allowances and preferences • Big demand for leasing services • Leasing is high profitable financial facility

  14. Our address: Tashkent city, 100003 Republic of Uzbekistan 4th Floor, International Banking & Finance Center 1, Turab Tula Street Tel.: (+998 71) 114 6446 (+998 71) 114 6444 (+998 71) 139 16 54 (+998 71) 132 6294 Fax.: (+998 71) 120 6729 E-mail: uzlease@sarkor.uz www.uzbek-leasing.com

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