Baku, Azerbaijan, Oct. 26
By Nigar Guliyeva – Trend:
Uzbekistan is providing additional opportunities for participants of free economic zones (FEZs) and small industrial zones.
On Oct. 26, Uzbek President Shavkat Mirziyoyev signed a resolution “On additional measures to improve efficiency of FEZs and small industrial zones.”
Participants of FEZs are given the opportunity to acquire idle enterprises and state property free of charge with undertaking of investment obligations, buy exchange commodities (raw materials, materials, semi-finished products and finished products) necessary for own production needs under direct contracts with producers at market prices, reads the document.
FEZ participants can also conclude import contracts without passing examination in the Uzbek State Committee for Investments, according to the document.
Directorates of FEZs “Navoiy”, “Angren”, “Jizzakh” and the newly created ones are exempt from paying taxes and mandatory contributions to state trust funds for the entire period of functioning of the zones.
The new system of management and organization of activities of FEZs and small industrial zones will be implemented in Uzbekistan starting from Dec. 1, 2017.
In addition, it is planned to launch a single portal of FEZs and small industrial zones in Uzbekistan in 2018.
According to the document, the single portal will start operating March 1, 2018. The portal will provide information on Uzbek economic zones and benefits provided to investors, publish a list of investment projects recommended for implementation, etc. The portal will also provide various interactive services to investors.