He said these projects, implement with participation of South Korean and Chinese companies, envisages production of spare parts to automobile and electronics industries, construction materials and textile products, gazeta.uz reported.

Tadjiev said the adopted measures will allow to attract investments to the Navoi FIEZ for over US$1 billion for organization of 50 projects in 2009-2010. He added that there are 37 agreements with foreign partners on realization of the projects at Navoi FIEZ for over US$500 million.

Uzbek President Islam Karimov has signed a decree on setting up a free industrial and economic zone (FIEZ) in Navoi region in December 2008. The FIEZ would be set up in the area of Navoi international airport.

The main area of the activities of the economic entities at the Navoi free industrial and economic zone is specified with the manufacturing of a wide range of high-tech, competitive products on the world market through introducing up-to-date highly productive foreign equipment and machines, technological lines and modules, as well as innovative technologies.

The document stipulates that the term of functioning of the Navoi industrial and economic zone will be 30 years with an opportunity for its further extension; during the term of the functioning of the FIEZ, a special customs, foreign currency and tax regime, a simplified procedure for entering, staying and leaving, as well as receiving a licence to carry out labour by non-residents of Uzbekistan will be in force in its territory; a special legal regime, including tax, foreign currency and customs, is only applied to the activities, being carried out by economic entities, which are registered with the FIEZ directorate, exceptionally in the territory of the FIEZ; coordination and operational management of the activities of the FIEZ are carried out, accordingly, by the Administrative Council, being set up from among representatives of the state agencies and the FIEZ directorate.

The decree stipulated releasing economic entities, registered with the Navoi free industrial and economic zone, from taxes on land, property, income, the improvement and development of the social infrastructure, from unified tax (for small companies), compulsory payments into the national road fund and the national secondary school fund, if the volume of direct investments are: from 3 million euros to 10 million euros - for seven years; from 10 million euros to 30 million euros for 10 years. In the next five years, the income tax and unified tax rate is set at half the current rate; over 30 million euros - for 15 years. In the next 10 years, the income tax and unified tax rate is set at half the current rate.