Vladislav Vorotnikov, Russia Correspondent11.15.18
The consumption of inks has been growing over the past few years in Kazakhstan and Uzbekistan, fueled primarily by a general economic upturn in these countries.
With a population of 32 million, Uzbekistan is the biggest ink market in Central Asia. In 2014, Islam Karimov, the late president of the country, listed inks among the goods on which the national government must target import replacement. In this regard, it was decided to provide state support to the Tashkent-based Uzbek-Korean joint venture Print Ink Production JV Ltd. – the only company manufacturing printing inks in Central Asia.
Karimov ruled that the state support to the manufacturer must be quite broad, so it should be exempted from payment of import duties on raw materials, as well as from income tax and net worth tax. He also ordered that Print Ink Production had to invest funds that it had obtained subjected to the state support measures either to expand production capacities or to increase localization, shifti
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