Tashkent, Uzbekistan (UzDaily.com) —  Businesses operating within the "Yangi Avlod" special industrial zone (SIZ) in Tashkent are set to receive significant tax exemptions, according to Farrukh Abdusalomov, head of the zone’s management company, in an interview with O’zbekiston 24.

Enterprises in the zone will benefit from a range of tax relief measures. Investors will be exempt from corporate income tax, property tax, land tax, and taxes on water resources.

The duration of these incentives depends on the scale of investments. For instance, projects with investments exceeding US$15 million will qualify for benefits lasting up to 10 years.

In addition, construction materials and equipment imported for building facilities within the zone will be exempt from customs duties.

Abdusalomov emphasized the zone’s potential to support diverse industrial ventures, including furniture and automotive manufacturing, food production, textiles, pharmaceuticals, and metallurgy.

The "Yangi Avlod" zone will also serve as a hub for logistics projects, enabling companies to outsource logistics services. Plans include the establishment of laboratories, certification centers, and dual-education programs aimed at preparing skilled technical professionals.

On 23 November, President Shavkat Mirziyoyev visited the industrial zone. According to the presidential press service, the zone is set to host 47 projects totaling US$1.37 billion in investment, creating approximately 12,000 jobs.

Prominent companies like DP World, JAC Motors, EAS, and Evyap are among those slated to operate in the zone. Management, investment attraction, and infrastructure development will be handled by the Chinese company CAMC Engineering.

The industrial zone, originally approved by President Mirziyoyev, spans 664.5 hectares. It offers tailored conditions for production activities, with benefits adjusted based on the area occupied by each enterprise.