Baku, Azerbaijan, Feb.9
By Nigar Guliyeva - Trend:
Uzbek President Shavkat Mirziyoyev has signed a resolution "On measures to sell state property to business entities and create small industrial zones in the Khorezm region."
The document reads that five small industrial zones will be created in Urgench, Khazarasp and Shavat districts.
Under the decree, the public property located within the territory of small industrial zones in the Khorezm region will be rented to business entities for 5 years at zero rate.
In the future, this property will become the property of business in case the business plan parameters are met, workplaces are created and kept and all taxes and other mandatory payments paid on time.
The president instructed the Fund for Reconstruction and Development of Uzbekistan to open a credit line worth $ 50 million to co-finance investment projects in the free economic zone "Khozarasp" and small industrial zones in the Khorezm region.
The funds will be used to purchase imported equipment and components. Repayment of the loan, according to the document, is allowed in the national currency at the exchange rate on date of the payment.
The document came into force on Feb. 8, 2018.
