The draft Presidential decree "On creation of a small industrial zone in Yangiyer city in Syrdarya region" has been posted on IASLA (Impact Assessment System of Legislative Acts) portal for public discussion.
The document says that the purpose of creating the industrial zone is to “further develop Yangiyer’s industrial potential, create favorable conditions for attracting investments for manufacture of competitive products in demand both in the domestic and foreign markets, as well as to efficiently use the road transport and engineering infrastructure of Yangiyer and thus creation of new jobs and raising incomes.
According to the project, it is planned to create a small industrial zone in Yangiyer city of Syrdarya region.
The document specified that the period of operation of the industrial zone is 30 years with possible extension. The industrial zone will primarily host the manufacturing facilities of small and medium enterprises. A Council for coordination and management of Yangiyer industrial zone is to be formed which will then select the investment projects for the industrial zone.
A number of tax and customs benefits shall be granted in the territory of the zone for a period of 3 years only in case the investments amount is not less than 2000 times the minimum wage (minimum wage as of January 2016 is about 150 thousand soums).
If annual revenue of the industrial zone's actor is less than 1000 times the minimum wage, benefits shall be canceled with the restoration of the obligations to pay taxes, customs and mandatory payments for the relevant fiscal year within the procedure prescribed by law.
In case of sale or donation of equipment, raw materials and components, as well as steel structures and building materials that have been imported with customs privileges within three years from the date of importation, customs duties are levied in full in accordance with the legislation.
