Uzbekistan. Foreign investors status
Government policy and strategy for development of pharmaceutical industry of Uzbekistan is focused on facilitating the growth of manufacturing capacity, promoting foreign investments through granting benefits and preferences.
The Decree UP-3594 of the President issued on 11.04.2005 to promote private foreign investments is an important document, which regulates manufacturing of medical drugs.
According to the Decree, starting July 1, 2005, the companies – recipients of private foreign direct investments, including drug manufacturers, are exempted from:
Creation of Navoi Free Industrial and Economic Zone became an important decision in creating favourable environment to promote foreign investments, primarily direct investments.
Based on the decision of the President of Uzbekistan, free industrial and economic zone has been established in the area of Navoi city international airport in Navoi oblast for establishment of modern high-tech industries to manufacture products, which would meet international standards and be on-demand in international markets.
Navoi Free Industrial and Economic Zone (hereinafter – Navoi FIEZ) –is a part of the territory of Navoi oblast of Uzbekistan, located on a 500-hectare land plot in Karmana district, with special legal environment including preferential tax, currency, and customs regulations, simplified entry, residence, and exit procedures as well as obtaining work permits by citizens – non-residents of Uzbekistan. According to the regulations, the businesses registered on FIEZ are exempted from customs duties (except customs clearance fee) on imported equipment, raw materials, inputs, and components for manufacturing export products for entire period of FIEZ operation.
It was decided to exempt the businesses, registered in Navoi Free Industrial and Economic Zone, from land tax, property tax, corporate tax, social infrastructure development tax, single tax payment (for small businesses), mandatory contributions to the Republican Road Fund and Republican Fund of School Education.
The Decree specifies that the period of operation of Navoi Free Industrial and Economic Zone is 30 years with possible extension.
Operations of the businesses on Navoi FIEZ will be concentrated in manufacturing a wide range of high-tech products competitive in global markets including pharmaceutical products through implementation of modern highly-productive equipment and machinery, technologies and modules, and innovative technologies.
The businesses registered in the Navoi Free Industrial and Economic Zone are permitted to make hard currency payments within FIEZ based on their contracts.
Source: UNDP
The Decree UP-3594 of the President issued on 11.04.2005 to promote private foreign investments is an important document, which regulates manufacturing of medical drugs.
According to the Decree, starting July 1, 2005, the companies – recipients of private foreign direct investments, including drug manufacturers, are exempted from:
- Corporate tax;
- Property tax;
- Social infrastructure development tax;
- Single tax payment for microfirms and small businesses;
- Mandatory contributions to the Republican Road Fund.
Creation of Navoi Free Industrial and Economic Zone became an important decision in creating favourable environment to promote foreign investments, primarily direct investments.
Based on the decision of the President of Uzbekistan, free industrial and economic zone has been established in the area of Navoi city international airport in Navoi oblast for establishment of modern high-tech industries to manufacture products, which would meet international standards and be on-demand in international markets.
Navoi Free Industrial and Economic Zone (hereinafter – Navoi FIEZ) –is a part of the territory of Navoi oblast of Uzbekistan, located on a 500-hectare land plot in Karmana district, with special legal environment including preferential tax, currency, and customs regulations, simplified entry, residence, and exit procedures as well as obtaining work permits by citizens – non-residents of Uzbekistan. According to the regulations, the businesses registered on FIEZ are exempted from customs duties (except customs clearance fee) on imported equipment, raw materials, inputs, and components for manufacturing export products for entire period of FIEZ operation.
It was decided to exempt the businesses, registered in Navoi Free Industrial and Economic Zone, from land tax, property tax, corporate tax, social infrastructure development tax, single tax payment (for small businesses), mandatory contributions to the Republican Road Fund and Republican Fund of School Education.
The Decree specifies that the period of operation of Navoi Free Industrial and Economic Zone is 30 years with possible extension.
Operations of the businesses on Navoi FIEZ will be concentrated in manufacturing a wide range of high-tech products competitive in global markets including pharmaceutical products through implementation of modern highly-productive equipment and machinery, technologies and modules, and innovative technologies.
The businesses registered in the Navoi Free Industrial and Economic Zone are permitted to make hard currency payments within FIEZ based on their contracts.
Source: UNDP
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