Uzbekistan Establishes Special Export Zones in the East
President of Uzbekistan Shavkat Mirziyoyev has approved a decree aimed at enhancing the efficiency of special economic and industrial zones in the country. The decree, titled “On additional measures to improve the efficiency of special economic and industrial zones,” outlines new regulations and goals for these zones, focusing on increasing export potential and generating a positive socio-economic impact.
Under the new decree, special economic zones (SEZ) will now have the option to operate as special export zones that exclusively deal with export-oriented projects. This introduces the concept of special export zones into the legislation, where all products produced within these zones will be designated for foreign markets. The decree also eliminates the time restrictions previously placed on special economic zones.
The decree sets ambitious targets for SEZs and industrial zones in Uzbekistan. By 2025, special economic zones are expected to attract at least $2.3 billion in investments and increase total production to $4.3 billion, creating around 12 thousand jobs. The target for total exports from Uzbekistan’s special economic zones by the end of 2025 is set at $1 billion.
Industrial zones, on the other hand, are projected to attract $800 million in investments and increase total production to $1.8 billion by 2025. The target for industrial zone exports is $512 million, with an estimated creation of 17 thousand jobs.
The first special export zone to be established is “Namangan,” where participants will benefit from placing imported raw materials, materials, and components under the customs regime of a free customs zone. Materials sourced from domestic enterprises that are supplied to residents of the FEZ “Namangan” will be considered as exports, while goods sold by zone participants in the domestic market will be treated as imports, subject to customs and tax regulations.
These developments indicate a significant step towards boosting Uzbekistan’s export capacity and fostering economic growth within the special economic and industrial zones. The country is poised to attract more investments, create job opportunities, and expand its presence in international markets through these targeted initiatives.
