Special economic and industrial zones in Uzbekistan
For the purposes of formation of favorable conditions for attracting foreign and local investments for creation of modern high-tech productions , the Decrees of the President of the Republic of Uzbekistan have established the special economic zones – FIEZ “ Navoi ”, FIZ “ Angren ” and “ Jizzakh ” on the territory of Navoi , Tashkent , Jizzakh and Syrdarya regions .
These tax benefits are available in the following volumes of the performed direct investments :
• from 3 million Euros to 10 million Euros - for 7 years ;
• from 10 million Euros to 30 million Euros - for 10 years . In subsequent 5 years the rates of profit tax and single tax payment are established in the amount of 50 percent less than current rates ;
• more than 30 million Euros - for 15 years . In subsequent 10 years the rates of profit tax and single tax payment are established in the amount of 50 percent less than current rates ;
Special customs regime . Enterprises registered in FIEZ “ Navoi ” are exempted from customs payments for imported equipment as well as raw materials , materials and component products for production of products for export for the entire period of free industrial economic zone functioning .
I . Free industrial economic zone “ Navoi ” The area makes up 564 hectares . Priority in FIEZ is given to the establishment of high-tech wide range productions of products competitive in the world markets in the following areas , as electric engineering and production of telecommunication equipment ; mechanic engineering , instrument engineering and production of component parts ; pharmaceuticals and medical equipment production ; food products production ; production of plastic and polymer products . For the period of FIEZ “ Navoi ” functioning on its territory the special legal regime is adopted providing for the range of benefits and preferences .
Special currency regime . Business entities registered in FIEZ “ Navoi ” are allowed to carry out the settlements and payments in foreign currency according to the agreements and contracts concluded between them as well as to pay in freely convertible currency for supply of goods , works and services by other business entities-residents of the Republic of Uzbekistan .
Visa regime . The participants of business activity and the members of their families , foreign citizens and stateless persons employed to work within the FIEZ “ Navoi ” are provided with the simplified regime of entry , departure , stay and employment .
Special tax regime . Enterprises in FIEZ “ Navoi ” are exempted from land tax , property tax , profit tax , tax on improvement and development of social infrastructure , single tax payment ( for small businesses ), as well as obligatory deductions to the Republican Road Fund and Republican Fund of School Education .
30