Six textile plans to be built in SIZ Jizzakh
20/06/2013 14:57
Six textile plans to be built in SIZ Jizzakh
20/06/2013 14:57
Tashkent, Uzbekistan (UzDaily.com) -- Six textile enterprises with participation of the Chinese investors will be constructed at the special industrial zone (SIZ) Jizzakh.
According to the state joint stock company Uzbekyengilsanoat, total cost of the projects is US$56 million and they will be implemented by the end of 2015.
Chinese firms Nan Yang Mulanhu, Henan Sine, Pinmian Co. Ltd и Hebey An Feng Da Group will realize these projects.
After the launch, these enterprises annually will produce 30 million square meters of cotton fabrics, 13,000 tonnes of stockinet and 15 million ready garments. It is expected that 80% of products will be exported.
President of Uzbekistan Islam Karimov signed a decree for creation of new special industrial zone Jizzakh on 18 March 2013.
The zone was created in line with a memorandum of understanding on implementation of project on creation of Uzbek-Chinese industrial park in Uzbekistan. It was created to form favourable conditions for attracting foreign and local investments to creation of high technologic industrial capacities, production of competitive products with high added price, complex and effective use production and resource potential of Jizzakh and Syrdarya regions.
The special zone was created for 30 years with possibility of extension. The decree set tax and customs preferences for enterprises, operating in the zone. The enterprises, located in the zone, will be exempted from payment of income tax, property tax, tax for accomplishment and social infrastructure, single tax, and mandatory payments to Road Fund.
They will be also exempted from payment of customs duties for imported materials, equipment and spare parts, which are not produced in Uzbekistan.
The preferences will be provided from three to seven years based on the volume of investments. The investors will be get these preferences for three years, if they invest US$300,000, five years – for investments from US$3 to US$10 million and seven years – for investments for above US$10 million.
This is the third special zone in Uzbekistan. Uzbekistan also created free industrial-economic zone and Angren special industrial zone.
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