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19 March 2013 / 12:06

19 March 2013, 18:56

President of Uzbekistan Islam Karimov signed a decree “On creation of special industrial zone Jizzak” on 18 March 2013.

The document was adopted in order to form favourable conditions for attracting foreign and local investments to creation of high technologic industrial capacities, production of competitive products with high added price, complex and effective use production and resource potential of Jizzakh and Syrdarya regions, create new jobs, raise income of population, as well as implement a memorandum of understanding on implementation of project on creation of Uzbek-Chinese industrial park in Uzbekistan.

According to the decree, special industrial zone Jizzakh will be created in Jizzakh region of Uzbekistan with the branch in Syrdarya.

President Islam Karimov ordered state bodies and local authorities in Jizzakh and Syrdarya region to determine borders of SIZ Jizzakh and allocate lands.

The document said that the main goal of the special industrial zone Jizzakh is to attract direct investments to creation of high technologic and innovative production capacities on production of competitive goods for internal and external markets.

Another goal of the zone is to ensure effective use of production and resource base of these two regions, create new jobs, deepen localization of production, etc.

The decree said that the special zone was created for 30 years with possibility of extension. The decree set tax and customs preferences for enterprises, operating in the zone.

The enterprises, located in the zone, will be exempted from payment of income tax, property tax, tax for accomplishment and social infrastructure, single tax, and mandatory payments to Road Fund.

They will be also exempted from payment of customs duties for imported materials, equipment and spare parts, which are not produced in Uzbekistan.

The preferences will be provided from three to seven years based on the volume of investments. The investors will be get these preferences for three years, if they invest US$300,000, five years – for investments from US$3 to US$10 million and seven years – for investments for above US$10 million.

This is the third special zone in Uzbekistan. Uzbekistan also created free industrial-economic zone and Angren special industrial zone.