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Home / Business and Innovation / The Program Approved to Develop Free Economic Zone...

The Program Approved to Develop Free Economic Zones in Uzbekistan

The Cabinet of Ministers has approved a program of measures to further improve and enhance the efficiency of the free economic zones.

The program provides for the review of the requirements for submission of investors information about the experience and conclusion of the audit organization on the financial statement for the last three years for new enterprises established by the investor.

The process of submission, review and approval of documents received will be step-by-step shifted into electronic form.

The terms will also be reduced of consideration of documents submitted in electronic form by the administrations of free economic zones from 5 to 2 working days, by the administrative council of free economic zones - from 10 to 5 working days.

The FEZ managements will be rendering services on the ‘single window’ principle for the participants of economic zones, including the preparation of necessary permit documents, licenses for the right to perform certain types of activities, obtain certificates for the products, the connection to the networks of engineering and communication infrastructure: electricity, natural gas, technical and drinking water, sewerage, telecommunications and others.

It is planned to open bank branches in the economic zones.

It is also projected to allocate preferential loans to the participants of the free economic zones for implementation of investment projects, including in foreign currency.
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