Uzbekistan Accelerates Industrial Zone Projects with New Investment Compensation Rules

Tashkent, Uzbekistan (UzDaily.com) — The government of Uzbekistan has approved a temporary regulation governing the allocation of new plots in industrial zones, taking into account the compensation of investments made in unfinished projects, as well as expenses related to the construction of incomplete buildings and facilities.

The document stipulates that investment assessments will be conducted to reimburse the costs of investors who lose their status as participants in an industrial zone.

Under an agreement between the investor and the industrial zone administration, unfinished facilities are transferred to the administration with the condition of compensating the incurred expenses.

Once the participant’s status is officially terminated, the land plot along with the unfinished facility is returned to the administration.

Within two weeks, the administration registers the facility in the state registry and, within one month, carries out its valuation.

Following the assessment, the land plot with the unfinished facility is offered in an online electronic auction within three days, or after construction is completed and the commissioning permit is obtained.

The new procedure is expected to accelerate the implementation of investment projects and ensure the efficient use of resources in industrial zones.