Alabuga, a Russian company, is set to create a special economic zone (SEZ) in the Bukhara region of Uzbekistan, as reported by TASS and confirmed by Artur Ayupov, the deputy director of Alabuga. The project was presented to President Shavkat Mirziyoyev during his official visit to Russia on October 5 in Kazan.
President Mirziyoyev expressed interest in the project and provided full authorization for Alabuga to lead the management company responsible for implementing the SEZ. The first stage of the SEZ aims to attract approximately 20 residents within the initial two to three years. The government of Uzbekistan is expected to invest $60 mn in the construction of this phase, resulting in the creation of 3,600 job opportunities.
Ayupov emphasized that Russian companies interested in establishing their production facilities in Uzbekistan would find the site created by Alabuga to be highly favourable. The construction of the SEZ in Bukhara is scheduled to commence next year, pending the adoption of necessary regulatory and legal documents by the Uzbekistan government. The establishment of this special economic zone holds great potential for boosting economic growth and attracting foreign investment to the Bukhara region.
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