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Economy 28/09/2009 Uzbekistan to host forum on Navoi FIEZ
Uzbekistan to host forum on Navoi FIEZ
Tashkent, Uzbekistan (UzDaily.com) -- The Government of Uzbekistan in cooperation with the Asian Development Bank and the Islamic Corporation for the Development of Private Sector, a member of the Islamic Development Bank Group, will host the Navoi Free Industrial and Economic Zone (FIEZ) Investment Forum on 21 - 23 October 2009 in Tashkent, Uzbekistan.

The Forum will bring together a network of global investors to discover a range of unique investment opportunities in Uzbekistan. The Government is inviting partners in high-tech and export-oriented sectors to take advantage of the region’s rich resources and unprecedented tax and customs privileges at the Navoi FIEZ.

Located on the ancient Great Silk Road, Uzbekistan has been historically a leading trade and cultural centre. Now the leading industrial country in Central Asia, its competitive advantage lies on its strategic location as a hub connecting Europe and Asia, along with large reserves of natural gas, precious metals, raw materials, and a well-educated workforce.

To improve the investment climate and attract more foreign direct investment, the Government has established the first ever free industrial and economic zone in Navoi, a leading industrial city at the center of Uzbekistan and the Central Asian region, within immediate vicinity of international transport communication routes.

Foreign companies planning to establish export-oriented production facilities in Navoi FIEZ will be provided with unprecedented privileges, including a de-facto tax-free, duty-free, and favorable currency regime, and simplified visa and employment procedures for 7-15 years, with possible extension of up to 30 years.

Uzbek President Islam Karimov has signed a decree on setting up a free industrial and economic zone (FIEZ) in Navoi region in December 2008. The FIEZ would be set up in the area of Navoi international airport.

The main area of the activities of the economic entities at the Navoi free industrial and economic zone is specified with the manufacturing of a wide range of high-tech, competitive products on the world market through introducing up-to-date highly productive foreign equipment and machines, technological lines and modules, as well as innovative technologies.

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