Baku, Azerbaijan, May 29
By Fikret Dolukhanov – Trend:
Uzbekistan is planning to create micro-industrial zones in the near future, Uzbek media reported on May 29 citing Economy Minister of Uzbekistan Botir Khojayev.
“All types of special zones have been created in Uzbekistan, including free economic zones as well as small economic zones. Now, within the framework of the Obod Mahalla [well-equipped neighborhood] program, the so-called micro-industrial zones are going to be created, which will be located literally at the place of residence of the citizens,” the minister said.
Khojaev mentioned a textile workshop in the Ulugnor district of the Andijan region as an example of such a zone, where 28 women are currently working. He also added that the Economy Ministry is currently carrying out extensive work to upgrade the skills of employees of various economic zones.
Uzbekistan has 17 free economic zones operating as of today, where 69 projects worth some $512 million were implemented. Three of the free economic zones were created in recent months: Syrdaryo, Sport and Balik ishlab chikaruvchi.
Investors are granted a wide range of benefits and preferences in economic zones. Depending on the volume of investments, investors are exempted for different periods from payment of land tax, profit tax, corporate property tax, tax on improvement and development of social infrastructure, single tax payment for microfirms and small enterprises, as well as mandatory contributions to state trust funds.
With investments of $300,000 to $3 million, an investor will receive benefits for three years, with $3 to $5 million – for five years, with $5 to $10 million – for seven years, and with over $10 million – for 10 years. In addition, investors will be freed for the entire period of activity of the economic zone from payment of customs duties for imported raw materials and components used for production of goods aimed at export.
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