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What advantages does Navoi FIEZ have over free economic zones in other countries?
The Navoi Free Industrial Economic Zone is located in the centre of Navoi's multimodal transport logistics hub, in close proximity to the international airport and major international highways and railways.
The capitals of 11 countries and more than 40 major cities of Central Asia, Middle East, India and China are located within a radius of 2,000 km from Navoi FIEZ.
The decision to locate the FIEZ in Navoi was based on numerous factors such as proximity to energy, water and gas supply units, urban center, availability of quality labor, and the presence of a favorable ecosystem that provides a comfortable work and living environment for residents of the Navoi FIEZ.
Enterprises registered in the Navoi FIEZ receive unprecedented incentives on customs duties (for the duration of Navoi FIEZ) and tax and other obligatory payments, including up to 15 years exemptions on the land tax, property tax, corporate income tax and social infrastructure development tax, followed by reduced tax rates of up to 50%.
Free economic zones in other countries often allow only a limited number of priority activities, but the Navoi FIEZ permits all kinds of economic activity.
Taking into account the existence of rich resources in Uzbekistan, the enterprises operating in the Navoi FIEZ have the opportunity to access bountiful raw materials and produce products with higher value added. Moreover, firms can maximize their returns on the manufactured goods because of reduced costs for transporting raw materials within the country.