BAKU, Azerbaijan, May 28
By Klavdiya Romakayeva - Trend:
A special industrial hub of mechanical and electrical engineering will be organized in Uzbekistan, which will occupy 105 hectares in the Andijan region, Trend reports citing Lex.uz, national database of legislation of Uzbekistan.
According to the information, the special industrial hub will operate for 30 years with the possibility of its subsequent extension.
It is reported that special tax, customs and currency regimes defined for special economic zones will be organized on the territory of this special industrial hub.
The document noted that the main tasks of the new structure include attracting direct foreign and domestic investment for the production of high value-added mechanical engineering and electrical engineering products that are in demand in the foreign market and import-substituting products.
Also, priority tasks include deepening the localization of high-tech products based on local raw materials and materials.
According to the State Statistics Committee of Uzbekistan, as of April 1, 2021, the number of special economic zones in the country amounted to 20, which include 526 enterprises, which produced goods for 3.2 trillion soums ($301 million).
Moreover, the volume of investments in fixed assets from all sources of financing amounted to 669.5 billion soums ($63 million) in the first quarter of this year, while a loss of 116.5 billion soums ($11 billion) was noted in special economic zones from January through March 2021.
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