Azernews.Az

By Kamila Aliyeva

Uzbek President Shavkat Mirziyoyev signed a resolution “On measures to expand the activities of the Navoi free economic zone and the creation of small industrial zones in Navoi region”.

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

The Uzbek head of state created four small industrial zones (SIZ) in Navoi region: Zarafshan city (0.8 hectare), Navoi city (1.2 hectares), Karmanin district (1.2 hectares) and Khatir district (35 hectares).

The state real estate on the territory of the Ministry of Economic Development is provided to business entities for 10 years with the subsequent transfer of ownership when implementing business plans, creating and maintaining jobs, timely paying 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 $ 50 million to co-finance investment projects implemented in the SIZ.

Funds 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 payment.

As many as 17 free economic zones currently operate in Uzbekistan. They implemented 69 projects for a total of $512 million. Three of them were created this year.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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