TASHKENT ESTABLISHES SMALL INDUSTRIAL ZONES
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As part of consistent implementation of measures to support development of small business and private entrepreneurship in the city of Tashkent on the basis of previously idle enterprises in Yunusabad, Sergeli and Yakkasaroy districts, small industrial zones have been created and are successfully operating on the territory of which there are 513 small enterprises engaged in production of textile, chemical, food, electrical products, furniture, modern building materials and other finished products demanded on the domestic and foreign markets.
These enterprises produced goods worth 1.1 trillion soums, exported goods for more than 140 million US dollars, created more than 11 thousand new jobs in 2016 only.
Thus, in order to further support development of new competitive industries and small enterprises, to ensure their concentration in certain territories with the engineering communications and necessary infrastructure, to deepen industrial cooperation, to strengthen scientific, technological and innovative potential, to create new jobs in the production sphere on this basis and to increase employment of the population, the Decree of the President of the Republic of Uzbekistan "On establishment of small industrial zones in the city of Tashkent" was adopted.
Production areas and land plots located in the territory of small industrial zones are given to business entities for long-term lease for 10 years with further extension for another 10 years at preferential rental rates.
One-window centers will open in small industrial zones to provide government services to entrepreneurs, a representative office of the Fund for support of exports of small businesses and private entrepreneurship entities, to assist participants in the export of their products and mini-banks.
In accordance with the document, the Guarantee Fund of Small Industrial Zones in Tashkent will be created. The sources of its formation are:
— one-time contribution of Reconstruction and Development Fund of the Republic of Uzbekistan in the amount of $ 50 million;
— contributions of international financial institutions, foreign government organizations and donors;
— incomes from provision of guarantees, investment of free balances of the Guarantee Fund, as well as other sources not prohibited by law.
The Guarantee Fund provides the participants of the SIZ with collateral for loans of commercial banks in the part not covered by the pledge, provided:
— level of products localization is not less than 60 percent during the year;
— exports of at least 10 percent of the total output during the year;
— implementation of activity in the sphere of industrial production for at least one year by organizations - participants of the SIZ, for whose obligations the guarantee is issued.
Benefits will be applied to participants of small industrial zones. They are exempt from property tax and corporate income tax for two years. Benefits are extended additionally for two years with the sale of at least 30% of the total output for export. To receive benefits, participants need to make investments in the amount of at least 3,000 minimum wages.
