05 September 2019

Nukus free economic zone Created

The President of the Republic of Uzbekistan signed the Decree “On measures to create a free economic zone” Nukus “.” In accordance with the Decree, the Nukus Farm Free Economic Zone has been transformed into the Nukus Free Economic Zone.

The main objective of the Nukus FEZ is to attract direct foreign and domestic investments for the production of import-substituting products that are in demand on foreign markets. The duration of the FEZ “Nukus” is 30 years and in its territory there are special tax and customs regimes.

Also, the Decree established that participants in the Nukus-Farm free economic zone receive the status of participants in the Nukus Free Economic Zone without going through additional procedures, and they will retain previously provided benefits and preferences provided for by law.

Today, Uzbekistan has 21 free economic zones with a special tax and customs regime.