In Uzbekistan, foreign direct investment is widely attracted for further improving the investment environment, privatizing and modernizing production, re-equipping and reconstruction, implementation of programs to create new jobs in the regions where there is a workforce.
Tax incentives are provided in order to actively attract foreign investment. By the Decree of the President of the Republic of Uzbekistan “On the concept of improving the tax policy of the Republic of Uzbekistan” of June 29, 2018, it is planned to maintain a favorable regime for foreign investors and investments, to support them comprehensively and provide reliable legal protection. In particular, legal entities, depending on the volume of foreign direct investment for a certain period, are exempt from paying taxes on property and the use of water resources.
A foreign entrepreneur who has invested from 300 thousand to 3 million USD is granted tax benefits for three years, from 3 million to 10 million dollars for five years, and over 10 million USD – for 7 years.