President expands territory of the free economic zone “Navoi”

Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev signed a resolution “On measures to expand the activities of the free economic zone “Navoi” and creation of small industrial zones in the Navoi region” on 5 June 2018.

According to the document, the territory of the free economic zone "Navoi" will be expanded by 81.4 hectares at the expense of buildings and structures in the city of Navoi.

The head of Uzbekistan created 4 small industrial zones (SIZ) in Navoi region: Zarafshan city (0.8 hectare), Navoi city (1.2 hectares), Karmaninskaya district (1.2 hectares) and Khatirchinsky district (35 ha).

The state real estate on the territory of the SIZ is provided to business entities for 10 years with the subsequent transfer of ownership in the implementation of business plans, creation and preservation of jobs, timely payment of all taxes and other mandatory payments. Rent rates are minimal, based on the type of activity carried out on the leased area, without raising coefficients.

The Fund for Reconstruction and Development of the Republic of Uzbekistan will open a credit line through commercial banks for US$50 million to co-finance investment projects implemented in the SIZ.

Means are allocated for the purchase of imported equipment and components. Loans can be repaid in soums at the exchange rate of the Central Bank on the date of repayment.

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