TASHKENT, Uzbekistan, March 7. Uzbekistan announced the establishment of the Namangan Special Economic Zone (SEZ) in an effort to develop industry and attract investment, Trend reports.
The initiative is outlined in the presidential decree on additional measures to improve the efficiency of special economic and industrial zones.
The Namangan SEZ will operate under a free customs zone regime, allowing resident companies to import raw materials, components, and supplies without immediate customs duties or economic restrictions. Goods within the zone will be considered outside Uzbekistan’s customs territory until they enter the domestic market.
Meanwhile, locally supplied raw materials, components, and services provided to SEZ residents will be classified as exports, making them eligible for export incentives. However, goods sold by SEZ residents within Uzbekistan will be treated as imports, subject to customs duties and taxes.
Earlier, Uzbekistan and Hungary held talks on the establishment of a special economic zone for the implementation of projects of Hungarian and European companies in Tashkent region.