Projects worth US$500m to be realized in FEZs in Uzbekistan

Projects with total cost of US$500 million will be implemented in the free economic zones (FEZs) in Uzbekistan in 2016.

Currently, the works are underway on realization of 35 new investment projects for total sum of about US$500 million at the FEZs.

The projects in 2016 will be realized in such sectors as chemistry, electrotechnical, metallurgy, light and food industries.

Currently, 41 investment projects for over US$320 million were implemented in the FEZs so far. They produce high-technological export-oriented and export-replacing products.

In particular, 19 projects were realized in free industrial and economic zone Navoi on production of digital TV boxes, mobile and fixed telephone handsets, heating and water heating equipment, automobile wires, gas cylinders, cosmetic products, etc.

Nine projects for production of copper pipes, LED lamps, silicone, briquette coals, breaks, sugar and other products were launched at the special industrial zone “Angren”.

Thirteen projects on production of mobile handsets, ceramic tiles, sanitary-technical products, goods from leather, solar collectors, sewing machines and other products were realized at special industrial zone “Angren”.

Currently, there are three FEZs in Uzbekistan. FIEZ Navoi was created in December 2008. SIZ Angren was founded in April 2012 and SIZ Jizzakh – in March 2013.

FEZs provide special tax, customs and currency regimes, as well as simplified order of visiting and labour hiring. The zones were created to attract foreign investments and technologies to organize production of highly technological products in Uzbekistan.

(Source: UzDaily.com)