Shavkat Mirziyoev announced the province of Navoi free economic zone

Шавкат Мирзиеев объявил Навоийскую область свободной экономической зоной

The head of Uzbekistan Shavkat Mirziyoev was appointed Navoi region a free economic zone (FEZ). Until 1 January 2030 it is defined for various types of industries, reports TASS.

On the free economic zone “Navoi” will create favorable conditions for doing business, for development of innovative entrepreneurship and high-tech industry. According to the document, it also will create clusters for the production of chemical products, the planned development of transport and engineering infrastructure. Yet there will be work to attract foreign direct investment.

In addition, the participants of SEZ are exempt from land tax, they will not pay taxes on profit, property of legal entities, they will be released from the single tax payment for microfirms and small enterprises. Benefits will be granted for a period of three to ten years.

It is noted that the term of validity of FEZ “Navoi” can be extended.