The presidential decree “On additional measures for the intensification and expansion of activities of free economic zones” dated October 26, 2016 serves as an important guide to action in creating a more favorable investment climate, expanding privileges and preferences.
A single legal regime for free economic zones, unification of tax and customs privileges and preferences, to be established in accordance with this document, will attract foreign and domestic investors, serve for the further development of the industry.
Participants of free economic zones enjoy tax and customs privileges, while they play an important role in the development of industrial production in the free economic zone “Jizzakh”.
Over the past short period of time since its establishment, 19 modern enterprises were commissioned. Some $91 million of investments were channeled for the implementation of 14 projects occupying 363.7 hectares of land in the city of Jizzakh, and 5 projects at 50 hectares in Syrdarya branch of the free economic zone. Thousands of new jobs have been created at enterprises equipped with modern technology.
Last year alone the FEZ produced goods worth 255.2 billion soums, while export amounted to $11.9 million.
Today, enterprises engaged in the zone produce brake pads for cars and trucks, TV-sets, air conditioners, refrigerators, washing machines, microwave ovens, led lights, polypropylene filament, video and IP-phones, telecommunication equipment, Internet-modems.
FEZ participants in line with preferential tax and customs regime are provided with necessary engineering infrastructure that draws attention of investors. In accordance with a special program approved by the Cabinet of Ministers of the Republic of Uzbekistan on July 1, 2013, the road leading to the FEZ and stretching 12 km has been fully restored, 5.7 km of water and 8 km of gas pipeline networks have been paved.
Khokimiyats of Jizzakh and Syrdarya regions in a timely manner allocate land plots for construction of enterprises, while all necessary permits for connection to engineering and communication networks are given under “one window” principle. This, in turn, creates a great convenience for entrepreneurs.
The greatest interest at FEZ is evidenced by Chinese investors. In the framework of the business forum held in December 2016, Jizzakh and Chinese entrepreneurs reached agreements and signed memoranda for 10 projects. (UzReport/Business World Magazine)