Uzbekistan to accelerate development of country's Sokh district

Business Materials 10 August 2020 15:32 (UTC +04:00)
Uzbekistan to accelerate development of country's Sokh district

BAKU, Azerbaijan, Aug. 10

By Ilkin Seyfaddini - Trend:

Uzbekistan plans to accelerate the social and economic development of Sokh District in Fergana region, Trend reports citing Uzbekistan National News Agency.

President Shavkat Mirziyoyev signed a decree on measures for comprehensive socio-economic development of Sokh district on August 8, 2020.

The document approves a program of development of the district in the period from 2020 through 2021, the priority directions of which are the organization of new industrial facilities, development of services sector, implementation of irrigation and reclamation measures, development of agriculture and livestock industry, upgrading road, transport and engineering and communications infrastructure, improvement of housing and living conditions, strengthening the material and technical base of educational and medical institutions, and enhancing social support and employment.

According to the decree, the working group responsible for the implementation of the program is tasked with studying the real state of poverty in the district and identifying measures for its elimination.

In order to support business entities, natural persons in Sokh district are exempt from land and property taxes in 2020.

From August 1, 2020 through July 31, 2021, individual entrepreneurs are exempted from the income tax in the amount of 50 percent of the fixed tax rate in force. In addition, they are exempt from paying a fee for the issuance of a permit certificate for the retail sale of alcoholic beverages.

To support business projects, the part exceeding 10 percent of the loan interest rate, but not exceeding 1.75 times the Central Bank's basic rate, will be compensated by the State Fund for Support of Entrepreneurial Activities.

Uzbekistan’s Ministry of Foreign Affairs, together with the Ministry of Defense, has been instructed to resolve the issue of using Kyrgyzstan's airspace, after which Uzbekistan plans to organize small air transport flights from Fergana to Sokh district at prices affordable to the population.

In addition, the administration of Fergana region has been instructed to provide residents of Sokh district with sowing land for farming and apartments based on mortgage loans.


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