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12:56 GMT +3 hours22 December 2014
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Uzbekistan To Set Up Free Industrial Zone

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Uzbekistan will set up a special industrial zone with tax and customs concessions by the end of March 2013, local media reported on Tuesday.

MOSCOW, January 22 (RIA Novosti) - Uzbekistan will set up a special industrial zone with tax and customs concessions by the end of March 2013, local media reported on Tuesday.

The order to create the zone, in which Chinese companies plan to invest, was signed by Uzbekistan's President Islam Karimov.

The zone, in the central Dzhizak Region, will incorporate power, construction, agroindustrial and mechanical engineering industry production facilities.

The zone's joint projects will be financed by a $50 million loan from the China Development Bank as well as Uzbekistan companies.

Uzbekistan currently has two industrial zones: the Navoi free industrial-economic zone in the country’s central region, established in December 2008, and the Angren special industrial zone in the northeastern Tashkent Region, established in April 2012.

In December 2012, Uzbekistan said it was extending tax exemptions to enterprises with a minimum 30 percent direct private foreign investment in 20 industries, up from eight previously. The new businesses on the list include construction of renewable energy power stations, packing material production, and the petrochemical industry.

 

Tags:
Islam Karimov, Uzbekistan