TASHKENT, Uzbekistan, March 25. Uzbekistan's President Shavkat Mirziyoyev signed a decree on March 20 on the creation of a Yangi Avlod special industrial zone in Tashkent, Trend reports.
According to Uzbekistan's Ministry of Justice, the new industrial zone will be located in the Yangihayot district of Tashkent. The term of validity of the special regime will be 30 years, with the possibility of extension in the future.
Enterprises in the Yangi Avlod special industrial zone will receive all preferences intended for participants in special economic zones. This includes exemption from a number of taxes, customs, and other benefits.
It is planned to launch investment projects worth $1.5 billion on the territory of the industrial zone by the end of 2025. A total of 2,500 people will be provided with permanent jobs.
The territory of the Yangi Avlod free economic zone will be managed by a company of the same name in the form of a limited liability company.
Meanwhile, Uzbekistan will launch the Ipak Yuli Free Economic Zone (FEZ) in Andijan district.
According to a decree by Uzbekistan's president, Shavkat Mirziyoyev, the FEZ will be established on 218.18 hectares of land.
Ipak Yuli will focus on attracting local and foreign investments, as well as producing goods in demand abroad and import-substituting products.