Five new small industrial zones created in Khorezm region

The document said that five small industrial zones will be created in Urgench (two), Urgench, Khazarasp and Shavat districts.

According to the decree, the state real estates, located in Khorezm small industrial zone is rented to business entities for 5 years at zero rate.

In the future, this property will become the property of tenants if they fully implement business plan parameters, create and preserve workplaces, as well as make taxes and other mandatory payments in time.

The President instructed the Fund for Reconstruction and Development of Uzbekistan to open a credit line for US$50 million to co-finance investment projects in the free economic zone Khozarasp and the Khorezm small industrial zone.

The funds will be used to purchase imported equipment and components to them. Repayment of the loan, according to the document, is allowed in national currency at the exchange rate on the maturity date on the payment schedule.