Tashkent, Uzbekistan, Aug. 9
By Demir Azizov– Trend:
Fund for Reconstruction and Development of Uzbekistan (FRDU) will open lines of credit worth $100 million for commercial banks to finance projects implemented in the territories of free economic zones (FEZs), according to the Uzbek President Shavkat Mirziyoyev’s decree on improving activities of the FEZs.
The document contains an analysis of problems and unresolved issues hampering accelerated development and efficient functioning of the FEZs, including criticism of low quality of investment projects, lack of the necessary logistics, as well as of the engineering and communications infrastructure.
Decree defines the main areas of the activities for FEZs, including settlement of issues related to the financing of investment projects.
Uzbek president instructed the country’s Central Bank, together with the State Committee on Investments, to intensify the work on attracting credit lines from foreign banks, international financial institutions and donor countries for implementation of investment projects in the territories of the FEZs.
Currently, there are 14 FEZs operating in 10 regions of Uzbekistan.