President Shavkat Mirziyoyev has signed a decree introducing additional benefits for Hungarian and European investors operating in the Hungary–Uzbekistan Special Industrial Zone (SIZ), the Ministry of Investment, Industry and Trade announced.
Investors working within the SIZ will receive tax exemptions for a period of ten years, as provided by national legislation.
According to the ministry, «The Hungary–Uzbekistan Special Industrial Zone is set to become a flagship of Uzbek-Hungarian economic cooperation, showcasing Uzbekistan’s openness to investment and its commitment to a stable business environment.»
The zone will be managed by a dedicated operating company, which has full authority to decide which investors may establish operations within the zone. The government will provide the necessary infrastructure.
An Administrative Council, chaired by Prime Minister Abdulla Aripov, has been formed to oversee the timely development of infrastructure within the zone.
Kursiv also reports that Chinese companies have put forward a proposal to establish a $500 mln investment fund aimed at supporting joint ventures in Uzbekistan.
