Government Allocates 1.5 Trillion Soums for Industrial Zone Infrastructure Improvement
President Mirziyoyev has given the green light to a proposal aimed at extending certain tax and customs benefits in Uzbekistan. This move is part of the government’s efforts to stimulate economic growth and create new job opportunities in the country.
A significant portion of the 1.5 trillion soums allocated for this year will be utilized to boost infrastructure capacity in industrial zones, as per the reports from the presidential press service. During a recent meeting, President Mirziyoyev put forward a plan to develop 600 hectares of land in the Kashkadarya region by installing additional pumps and chutes along the Mirishkor canal. This initiative is expected to pave the way for the cultivation of castor beans and the production of oil from them, ultimately leading to the creation of 1.4 thousand new jobs.
Moreover, plans are underway to set up solar panels in unused areas near industrial enterprises to generate additional energy and alleviate the strain on Uzbekistan’s energy system. The implementation of tax and customs benefits, as prescribed by presidential decrees and decisions, has already had a positive impact on the operations of enterprises. Notably, the customs benefits for the import of dyes have resulted in a reduction in the cost of various textile products, including knitted fabrics, shirts, suits, and trousers.
The President has not only approved the extension of certain customs and tax benefits but has also instructed officials to enhance the relevant regulatory documents. Furthermore, responsible individuals have been tasked with identifying growth opportunities across all 208 districts and cities and preparing projects aimed at boosting the incomes of the population.
These measures reflect the government’s commitment to fostering economic development and improving the livelihoods of the people of Uzbekistan. By providing support to industries and creating job opportunities, the government seeks to build a stronger and more prosperous nation for its citizens.
