Tashkent, Uzbekistan (UzDaily.com) -- Presidential Resolution No “On the creation of the free economic zone “Ipak Yuli” in Andijan region” was adopted.

To implement high-tech and modern investment projects in Andijan region, create new jobs and improve the well-being of the population of the region, as well as further expand cooperation in the field of trade and investment with countries located on the Great Silk Road, a free economic zone is being created in Andijan district of Andijan region " Ipak yuli.”

The main objectives and areas of activity of the FEZ “Ipak Yuli”:

attracting direct foreign and domestic investment for the production of industrial products in demand in foreign markets and import-substituting products with high added value;

establishment of strong cooperative ties based on local raw materials and supplies, expansion of high-level industrial production based on the development of industrial cooperation between participants of the Ipak Yuli FEZ and with other regions of the republic;

expansion of industrial production based on the effective use of the production and resource potential of the region, creation of permanent jobs for the local population.

The duration of the activities of the Ipak Yuli FEZ is 30 years with the possibility of its subsequent extension.

During the period of operation of the Ipak Yuli FEZ, its participants are subject to certain tax, customs benefits and other preferences defined for participants in free economic zones.

Some 218.18 hectares, including 201.23 hectares of irrigated agricultural land in Andijan district of Andijan region will be transferred to the category of land for industry, transport, communications, defense and other purposes.

To prevent the reduction of agricultural land, new land plots will be developed by 1 January 2025, which will become irrigated land.