Uzbekistan Creates Free Economic Zone

Uzbek President Shavkat Mirziyoyev has signed a decree to create the Chirakchi Free Economic Zone (FEZ) to attract foreign direct investment to the southeastern Kashkadarya region, Uzbek Justice Ministry said Saturday

TASHKENT, (APP - UrduPoint / Pakistan Point News - 16th Sep, 2019) :Uzbek President Shavkat Mirziyoyev has signed a decree to create the Chirakchi Free Economic Zone (FEZ) to attract foreign direct investment to the southeastern Kashkadarya region, Uzbek Justice Ministry said Saturday.

One of the priority tasks of the FEZ, located in Chirakchi district of Kashkadarya region, is to attract foreign direct investment to produce high-tech and export-oriented products and increase the export potential of the region, the ministry said.

The term of functioning of the Chirakchi FEZ is 30 years with the possibility of extension. Special tax, customs and Currency regimes will operate on its territory.

Mirziyoyev has been carrying out economic reforms in the past two years to attract foreign investment and so far 20 free economic zones operate across the country.