Uzbekistan to improve activities of FEZ Navoi

Uzbekistan Materials 8 February 2019 12:56 (UTC +04:00)

Baku, Azerbaijan, February 8

By Fakhri Vakilov-Trend:

Uzbek President issued a bill which proposes to transform the State Unitary Enterprise Directorate of Navoi FEZ into JSC Directorate of Navoi FEZ, Trend reports with reference to the regulation.uz website.

This bill should allow to take it possible to simplify the management system and improve the activities of Navoi Free Economic Zone, improve conditions for attracting investments and ensure accelerated implementation of investment projects in the Navoi FEZ.

Uzbek State Assets Management Agency will take the functions of shareholder on behalf of the state in the authorized capital of JSC Directorate of Navoi FEZ.

The main activities of JSC Directorate of Navoi FEZ will be: the selection and decision-making on the implementation of investment projects for placement on FEZ territory; registration and maintenance of the register of FEZ participants, issuance of relevant certificates; conclusion of investment agreements with investors selected in accordance with the established procedure on FEZ territory; provision of land plots of buildings, structures and offices on FEZ territory to FEZ participants and other business entities.

Moreover, it is proposed to introduce a simplified visa regime and the procedure for hiring foreign employees on Navoi FEZ territory since March 1, 2019 which provides issuing entry visas to foreign citizens on Navoi FEZ territory and a work permit without consular fees.