The town of Yangiyer in Syrdarya region is getting prepared for the establishment of a new small industrial zone in the near future.
The new industrial zone will focus on the accelerated development of small businesses, provision of employment, scale up of entrepreneurial incomes in Syrdarya region, and enhancement of localization of high-tech production on the basis of local raw materials.
The estimated period of its operation is 30 years with possible extension. It will mainly host small businesses, which will be sel ected by the specific Coordination and Management Council.
The construction of external engineering services and infrastructure will be free of charge for the members of the industrial zone, and funded by Uzbekenergo, Uztransgaz and other suppliers of engineering and communication services, as well as by local budget of Syrdarya region.
Other advantages for entrepreneurs include exemption from the land tax, income tax, legal entity property tax, tax for the improvement and development of social infrastructure, single tax payment for micro firms and small enterprises, as well as mandatory contributions to the state funds.
In addition, the government is ready to release companies fr om customs duties for equipment, raw materials and components, as well as metal and construction materials, which are imported for the production needs.
In order to get all these benefits for three years, investors will have to invest not less than 2,000 times the minimum wage in the project to be implemented in the zone. In case if annual revenue of the industrial zone member will be less than 1,000 times the minimum wage, the benefits will be canceled.
