Baku, Azerbaijan, July 11
By Fikret Dolukhanov – Trend:
The first agricultural free economic zone Bukhoro-Agro will be created in the Bukhara region of Uzbekistan, Uzbek media reported referring to the corresponding presidential decree.
It is planned that modern greenhouse facilities will be located in the FEZ with attraction of direct foreign and domestic investments. Production of structures, equipment and other components for construction of energy-saving greenhouses will be launched in FEZ as well.
Among the tasks of the FEZ will be production, processing and export of agricultural products, formation of modern logistics infrastructure, organization of nurseries for seedlings of popular crops, as well as primary seed production.
The FEZ period of activity will be 30 years with possibility of extension. During this period special tax and customs regimes will be applied there. The status of the FEZ participant is granted by the decision of the Administrative Council of Free Economic Zones and Small Industrial Zones of the Bukhara Region.
The financing of projects on the territory of Bukhoro-agro should be carried out by funds of international financial institutions, initiators of projects, including direct investments, as well as loans from commercial banks and other sources. At the same time, the size of the project initiator's own funds cannot be less than 25 percent.
---
Follow the author on Twitter: @FDolukhanov