Three new plants launched in SIZ Jizzakh (Updated)
10/04/2015 15:12
Three new plants launched in SIZ Jizzakh /Photo by Norodnoe Slovo newspaper/
10/04/2015 15:12
Tashkent, Uzbekistan (UzDaily.com) -- Three new enterprises have been launched in the territory of the special industrial zone Jizzakh. The ceremony of launching was held on 8 April 2015.
The press service of Jizzakh regional administration told UzDaily that all three enterprises were launched at participation of Uzbekcharmpoyabzali with Chinese investors.
Uzbek-Chinese joint venture AUTO Pad Systems will produce brake pads for automobiles and railway transports. The project cost is US$4 million.
The venture was created by Uzbekistan-based Golden Auto Parts (49% stake in the venture) and Chinese Urumchi Partnec Biotechnologi Co. Ltd (51%). The enterprise’s capacity allows to produce 397,500 pairs of pads for automobiles, 23,300 pairs of pads for buses and trucks and 10,000 pairs of pads for railway transport. The project helped to create 45 new workplaces.
Master Screw Systems, an Uzbek-Chinese venture, will produce hardware and metallic profiles.
The founders of Master Screw Systems are Uzbekistan-based Sell Screw Products (25%) and China’s Xinjiand Nixan inter-national Logistics Co.LTD (75%). The project cost is US$4 million.
The enterprise will annually produce 2,000 units of hardware and 12,000 units of metallic profiles and spare parts to them.
Buy Fitting Product (Uzbekistan) and Urumchi Partnec Biotechnologi Co.LTD (China) founded Master Building Products and realized the project on production of plastic products and accessories with the cost of US$4 million.
Master Building Products will produce 400,000 meters of polypropylene pipes for hot and cold water a year, 200,000 meters of floor heating pipes, as well as 5.5 million units of fittings, valves and accessories for pipes installation.
President of Uzbekistan Islam Karimov signed a decree for creation of new special industrial zone Jizzakh on 18 March 2013.
The zone was created in line with a memorandum of understanding on implementation of project on creation of Uzbek-Chinese industrial park in Uzbekistan. It was created to form favourable conditions for attracting foreign and local investments to creation of high technologic industrial capacities, production of competitive products with high added price, complex and effective use production and resource potential of Jizzakh and Syrdarya regions.
The special zone was created for 30 years with possibility of extension. The decree set tax and customs preferences for enterprises, operating in the zone. The enterprises, located in the zone, will be exempted from payment of income tax, property tax, tax for accomplishment and social infrastructure, single tax, and mandatory payments to Road Fund.
They will be also exempted from payment of customs duties for imported materials, equipment and spare parts, which are not produced in Uzbekistan.
The preferences will be provided from three to seven years based on the volume of investments. The investors will be get these preferences for three years, if they invest US$300,000, five years – for investments from US$3 to US$10 million and seven years – for investments for above US$10 million.
This is the third special zone in Uzbekistan. Uzbekistan also created free industrial-economic zone and Angren special industrial zone.
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