BAKU, Azerbaijan, Aug. 18
By Ilkin Seyfaddini - Trend:
The territory of the Khazarasp free economic zone will be expanded via empty land plots, Trend reports citing Uzbekistan National News Agency.
This was stated in a resolution of the President of Uzbekistan from August 17, 2020 on the development of entrepreneurship in Khorezm region and increasing investment attractiveness of the region.
The decree provides for the establishment of an Infrastructure Fund under the Khorezm region’s administration. Its funds will be used to finance infrastructure construction in FEZs.
The Fund for Reconstruction and Development of Uzbekistan will allocate $13 million to Khorezm Invest Project for construction of engineering and communications infrastructure in the expanded territories of FEZ Khazarasp.
The investment company with an initial authorized capital of $30 million (with a further increase to $100 million) was established at the founding of investment companies NBU Invest Group, PSB Capital and Asaka Capital Invest.
The Resolution also approved the targeted list of 84 investment projects with a total value of $214.3 million to be implemented in the Khorezm region in the period from 2020 through 2022, as well as a list of 26 major promising investment projects worth $516.8 million, also being implemented in the region.
The launch of 26 projects as well as new industrial production projects in each district of Khorezm is scheduled for April 1, 2021.
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