Uzbekistan significantly expands area of Navoi Free Economic Zone
Baku, Azerbaijan, June 8
By Fikret Dolukhanov – Trend:
The territory of the Navoi Free Economic Zone (FEZ) has been increased by 81.4 hectares by the presidential decree of June 5, website of Uzbekistan's legislative base stated on June 8.
Reportedly, the territory of the FEZ has been expanded by inactive production areas located in the city, including buildings and structures of the production base and a building materials plant, as well as facilities of the former Avtotransstroy-Mekhanizatsiya enterprise.
In line with the presidential decree, four small industrial zones were created in Navoi region: Zarafshan city (0.8 hectares), Navoi city (1.2 hectares), Karmaninskaya district (1.2 hectares) and Khatirchinsky district (35 hectares).
State real estate on the territory of small industrial zones is provided to business entities for 10 years with subsequent transfer of ownership in case of implementation of business plans, creation and preservation of jobs, timely payment of taxes and other mandatory payments.
The Fund for Reconstruction and Development of Uzbekistan will open a $50-million credit line through commercial banks to co-finance investment projects in small industrial zones. Funds are allocated for the purchase of imported equipment and components. Repayment of loans will be possible in national currency (soums) at the rate of the Central Bank of Uzbekistan.
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