Uzbekistan’s First Export-Oriented SEZ Opens in Namangan
Uzbekistan is gearing up to attract over $3 billion in investments in Special Economic Zones (SEZs) and industrial zones by the end of the year. This ambitious goal is part of President Shavkat Mirziyoyev’s decree aimed at enhancing the efficiency of these zones, as reported by the Ministry of Justice.
The decree, issued on March 4, lays out key targets for 2025, with the aim of increasing production volumes to $4.3 billion in SEZs and $1.8 billion in industrial zones. Export goals are set at $1 billion and $512 million, respectively.
To meet these targets, Uzbekistan plans to draw in $3.1 billion in investments, with $2.3 billion allocated for SEZs and $800 million for industrial zones. Furthermore, the president has set a goal of creating 29,000 new jobs in these zones.
One significant aspect of the decree is the removal of all time restrictions on SEZ operations. In addition, only SEZs and industrial zones will be permitted for newly established specialized zones.
A notable development introduced by the decree is the creation of special export zones – SEZs dedicated solely to producing goods for foreign markets. The first of these zones will be the Namangan SEZ, which was initially announced by the president in January.
The Ministry of Investments, Industry, and Trade will serve as the overseeing body for SEZ management. It will also coordinate SEZs operated by private entities and industrial zones managed by local authorities.
Effective June 1, raw materials, components, and supplies imported by SEZ participants for export production will undergo customs clearance under the “processing in the customs territory” regime.
Moreover, until January 1, 2028, SEZ and industrial zone administrations will benefit from a land tax exemption on leased plots, with a reduced tax rate of just 1% of the assessed amount.
These measures are aimed at attracting investments, promoting production, boosting exports, and ultimately creating job opportunities in Uzbekistan’s SEZs and industrial zones.
