The Namangan Free Economic Zone (FEZ) is set to undergo a significant expansion, with 70 hectares of vacant land plots in the Turakurgan district earmarked for this purpose, Dunyo News Agency reports. This development comes in the wake of a resolution adopted by the President of Uzbekistan, aimed at enlarging the territory of the Namangan FEZ.
Objectives of expansion
The primary goal of this expansion is to foster the growth of the Namangan FEZ, facilitate the introduction of advanced technologies, and create a conducive environment for entrepreneurs. Additionally, it is expected to boost the production capacity of products that are geared towards import substitution and export orientation.
Planning and development
As per the resolution, the State Unitary Enterprise “Directorate of the Free Economic Zone ‘Namangan’” is tasked with the development and approval of a master plan for the new territories of the FEZ “Namangan”. This process is expected to be completed within a month.
Future development measures
Furthermore, steps will be taken over the next three years to cultivate new land, equivalent to five times the area of agricultural land allocated for the expansion of the free economic zone.
The decree establishing the Namangan Free Economic Zone was signed by the President of Uzbekistan on August 20, 2018.
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