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    Uzbekistan

    President Mirziyoyev greenlights Urgut FEZ expansion by 40 hectares

    President Mirziyoyev greenlights Urgut FEZ expansion by 40 hectares

    Uzbekistan continues to enhance its investment climate and promote economic development through the expansion of free economic zones (FEZs). On February 8, President Shavkat Mirziyoyev approved a new expansion of the Urgut free economic zone, signaling the government's commitment to fostering business growth and attracting foreign investment. The Presidential Decree outlining this expansion is now accessible in the Lex.uz database.

    Photo: On February 8, President Shavkat Mirziyoyev approved a new expansion of the Urgut free economic zone
    Source: Wikimedia Commons

    According to the decree, vacant non-agricultural land parcels spanning a total area of 40 hectares in the Nurabad district will be incorporated into the Urgut FEZ. This expansion comes in response to a proposal presented by the local administration of the Samarkand region and the Ministry of Investment and Foreign Trade (MIIT).

    In line with the presidential directive, the regional administration has been tasked with promptly updating cadastral data within a week to reflect the inclusion of the new land parcels into the FEZ. Subsequently, these newly designated plots will be made available for online auction, facilitating their sale to businesses eager to capitalize on the benefits of operating within the Urgut FEZ.

    This latest expansion marks a continuation of previous efforts to bolster the Urgut FEZ's infrastructure and attractiveness to investors. In November 2021, the zone witnessed a significant enlargement of 580.8 hectares, encompassing both non-agricultural and farmland areas. Additionally, a noteworthy policy change granted all enterprises in the Urgut region engaged in the production of high-tech goods for export and import substitution equivalent status to zone participants.

    Moreover, the expansion of the Urgut FEZ extends beyond its geographical boundaries, with recent inclusions of territories in other regions. In January 2023, designated areas in Karakalpakstan and the Kashkadarya region totaling 59.7 hectares were incorporated into the zone, broadening its reach and economic impact across Uzbekistan.

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    13.02.2024, 20:57   Comments (0)   1369
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