Enterprises at Uzbekistan's Jizzakh FEZ to up production almost threefold (Exclusive)

Baku, Azerbaijan, June 6

By Fikret Dolukhanov - Trend:

There is a plan to produce products worth $111.8 million in the territory of the Jizzakh Free Economic Zone (FEZ), which is 160 percent higher than in 2017 ($42.9 million), the Jizzakh FEZ Directorate told Trend June 6.

Glass wool, sewing machines, collectors, brake pads, polypropylene pipes, LED lamps, as well as high-tech products like home appliances, video and IP telephones and other telecommunications equipment and accessories will be manufactured at the FEZ.

Presently, according to the Jizzakh FEZ, 46 projects worth $591 million are realized in its territory, of which $173.4 million accounts for foreign direct investments, and $165.3 million accounts for bank loans.

"Thanks to these projects, about 4,200 jobs were created on the FEZ territory."

The Jizzakh FEZ Directorate said 16 projects worth $164 million are in the process of development, to which foreign investors are being attracted.

"The products of enterprises operating at the FEZ are mainly exported to the countries of Central Asia. However, soon it is planned to expand the geography of exports to the markets of the CIS, East, Southeast and South Asia, Europe and the Middle East," according to the Directorate.

Presently, various types of glass products, worth a total of $110 million, are produced at the Jizzakh FEZ under a project of the Chinese company MingYuan Silu Industry Co. Ltd. The production capacity of the enterprise is 16 million square meters of glass products a year. About 40 percent of the finished products is exported abroad. The enterprise employs 400 people.

The Jizzakh FEZ, with a total area of 363.7 hectares, was created in accordance with a decree of the Uzbek president on March 18, 2013.

Among the advantages of the FEZ, are the availability of engineering and communication infrastructures, special mineral resources, special tax and customs benefits.

That is why, the FEZ is located on the New Silk Road as well as the new 1,090-kilometer Uzbekistan-Kyrgyzstan-China highway (from the Jizzakh city in Uzbekistan to Kashgar in China).

There are more than 20 deposits of mineral resources in the Jizzakh region. Particularly, the region has 196 million tons of raw materials for cement production, 11.9 million tons of barite, 7.3 million tons of cladding stone, 6.7 million tons of expanded clay, 5.8 million tons of limestone, 4.1 million tons of wollastonite, two million tons gypsum, etc.

The Jizzakh FEZ grants investors a wide range of benefits and preferences. Depending on the volume of investments, investors are released from payment of land tax, profit tax, property tax for legal entities, tax for improvement and development of social infrastructure, single tax payment for micro firms and small enterprises, as well as mandatory contributions to state funds for various periods.

In case of investing $300,000-$1 million, the investor receives benefits for three years, $3-$5 million - for five years, $5-$10 million - for seven years, and over $10 million - for 10 years.

In addition, investors are released from customs payments for importing raw materials, materials and component parts for manufacturing products aimed at export for the entire period of activity at the FEZ.

---

Follow the author on Twitter: @FDolukhanov

Subscribe to Trend in Google News! Subscribe
Iran’s exports from West Azerbaijan Province increase
Iran’s exports from West Azerbaijan Province increase
EU calls on Azerbaijani farmers to engage in more cooperation
EU calls on Azerbaijani farmers to engage in more cooperation
Iran sees surge in price of apartments in Tehran
Iran sees surge in price of apartments in Tehran
Loading Bars
Latest
Iran reveals COVID-19 data for January 27
Criminal case of former chief of Kazakhstan's KNB classified as "Top Secret"
Assets of Azerbaijan's Yelo Bank increase in 2021
Yapi Kredi Bank Azerbaijan ends 2021 with loss
Iran’s exports from West Azerbaijan Province increase
Demand for eSIM technology increases in Azerbaijan - deputy minister (Exclusive)
German daily COVID cases rise above 200,000, causing staff shortages
Uzbekistan’s CERR forecasts GDP growth for 2022
Kazakhstan’s modernized national security system must be ready to meet any challenges - president
SOCAR AQS, Iraqi Drilling Company ink protocol
Georgia, Azerbaijan discuss attracting tourists to South Caucasus
Azerbaijani Unibank's assets up in 2021
Iran’s POGC unveils volume of gas extracted from South Pars gas field
EIB reveals volume of investments in green transformation
Azerbaijani Finance Ministry to put up gov't bonds for new auction
Iran’s Bahar Azadi gold coin price dips
Azerbaijan discloses timeframe for providing entire country with internet
Bulgaria’s Chiren gas storage project to get funding from EU
EU calls on Azerbaijani farmers to engage in more cooperation
EU companies among largest investors in Azerbaijan – EU Programme Manager
Central Bank of Azerbaijan hold regular foreign currency auction
Iran sees surge in price of apartments in Tehran
Azerbaijan talks unauthorized use of state companies' cable networks
Azerbaijan's Ziraat Bank discloses net profit for 2021
IRICA shares data on import of COVID-19 vaccine to Iran
Uzbekistan Airways to resume flights to Turkey's Istanbul
Azerbaijan sees growth in oil prices
Joint projects - good chance for Azerbaijan, Iran to develop relations further, MP says
Azerbaijan records growth of production in industrial zones in 2021
Azerbaijan talks construction, restoration of roads in liberated areas
Russia records another 88,816 coronavirus cases — crisis center
Uzbekistan shares data on potato imports for 2021
EU shares experience with Azerbaijan in development of agritourism - official
Spirits maker Diageo posts 16% rise in first-half sales
Bank of America raises base pay for top bankers
Uzbekistan places government bonds on currency exchange
Azerbaijan unveils TV & radio coverage of liberated areas
Croatia to possibly take part in demining of Azerbaijani liberated lands
Croatian Ambassador talks impact of COVID-19 on Ionian-Adriatic Pipeline project
Georgian Ambassador to Azerbaijan visits Baku Higher Oil School (PHOTO)
Azerbaijan plays its role in global fight against anti-Semitism and support of multiculturalism - UN official
Agriculture plays key role in Azerbaijani economy's diversification - EU official
Croatia eyes to strengthen co-op with Azerbaijan in food processing industries
Uzbekistan shares data on GDP per capita
Uzbekistan starts implementation of new investment project
Spain's Sabadell reports 161 mlns Q4 net profit helped by TSB
Electrolux books $85 mln tariffs case related charge in Q4
Azerbaijan is unique Muslim country with large Jewish community - Israeli ambassador
Azerbaijan's AccessBank discloses loan portfolio volume for 2021
VTB Bank Azerbaijan reveals net profit for 2021
Uzbekistan looking to increase GDP and industrial production in 2022
Deutsche Bank nearly triples Q4 profit, defying expected loss
President Ilham Aliyev and First Lady Mehriban Aliyeva attend inauguration of newly built Training and Service Complex in Bina settlement (PHOTO/VIDEO)
Croatia provides update on Ionian-Adriatic Pipeline project
Azerbaijan registers increase in volume of loans issued to construction sector
Southern Gas Corridor fulfills both conditions of EU energy security – envoy
Vietnam, Azerbaijan agree to enhance defense ties
Uzbekistan removes restrictions on operation of gas filling stations
Iranian currency rates for January 27
Kazakhstan's oil extracting company to buy accumulators via tender
VTB Bank Azerbaijan’s assets increase in 2021
Kazakh-Chinese oil company extends tender to buy spare parts for pumps
Azerbaijani currency rates for January 27
Azerbaijan names production value of building materials for 2021
Kazakhstan records increase in export of cars
Oil falls as U.S. Fed's pending interest rate hike spooks investors
Most COVID-19 infections in Azerbaijan associated with Omicron strain - expert
Azerbaijan and Georgia play key roles within “One Belt, One Road” initiative – Hualing FIZ CEO (Interview) (VIDEO)
USAID eager to partner with Turkmenistan on low carbon development
India sees 2.86 lakh new Covid cases, 665 more deaths
Turkey ready to host Zelenskyy, Putin to defuse tensions: Erdogan
PM Modi wears cap from Uttarakhand with Brahma Kamal, stole from Manipur on Republic Day
Moderna starts trial for Omicron-specific booster shot
Each dose of Covishield, Covaxin likely to be capped at Rs 275 after getting regular market approval
Frogs regrow amputated legs after treatment with a chemical cocktail
Indian PM Modi pays tributes at National War Memorial ahead of Republic Day celebrations
Omicron generated antibodies effective against all variants of concern in adolescents, adults: ICMR study
Six injured in explosion at сhemical plant in Louisiana
N. Korea fires unidentified projectile toward East Sea: S. Korean military
US to shut down Afghan embassy, strip diplomats of immunity
Magnificent flypast at 73rd Republic Day parade; celebrations scaled down due to Covid scare
Oil breaks $90/bbl for the first time since 2014
Fed keeps rates near zero, says hike likely 'soon'
Heidelberg shooting: German police say attacker got weapons in Austria
India’s first woman Rafale pilot Shivangi Singh takes part in R-Day parade
Steps taken by Armenia, Turkey to normalise relations are good news - EP's Turkey rapporteur
Georgian Parliament Speaker meets NATO Deputy SG
New US ambassador to Turkey presents credentials to President Erdogan
Embassy of India in Baku celebrates Republic Day (PHOTO)
Booster dose of vaccine required to prevent severe course of COVID-19 - Azerbaijani doctor
Azerbaijan discloses number of missing citizens since First Karabakh War
Citizens of two more countries allowed to enter Azerbaijan by air
Health structures in Azerbaijan talk COVID-19 vaccine certificate validity
Uzbekistan reveals total assets and liabilities of its banks for 2021
Uzbek Central Bank notes increase in volume of deposits for 2021
Price indexes of industrial, construction sectors at Uzbek stock exchange fall
Azerbaijan says high infectiousness, short incubation period of Omicron strain lead to infection rate growth
Georgia’s parcel shipping companies talk service tariffs in 2022
Rebalancing India’s Foreign Policy
SOCAR to supply spot pipe gas to Turkey
All news