Business administration

2.2. The Free economic zones
Uzbekistan is quickly becoming a major destination for foreign investment. To help attract and encourage investment, the government has established several free economic zones (FEZs) throughout the country. These FEZs offer a range of incentives and benefits to businesses and investors, such as tax exemptions and simplified regulations. The first FEZ in Uzbekistan was established in 1999. Since then, the government has established several more, including the Navoi FEZ, which is the largest and most developed FEZ in the country. The Navoi FEZ is located in the city of Navoi, which is the industrial and economic hub of Uzbekistan. It covers an area of over 1,000 hectares and offers a wide range of incentives and benefits to businesses. These include tax exemptions, simplified customs procedures, and access to a wide range of infrastructure and services. The government has also established several other FEZs in different regions of Uzbekistan. These include the Jizzakh FEZ, which is located in the Jizzakh region and focuses on light industry and food processing; the Angren FEZ, which is located in the Tashkent region and focuses on manufacturing; and the Namangan FEZ, which is located in the Namangan region and focuses on textile production. In addition to these FEZs, the government has also established several special economic zones (SEZs). These SEZs are designed to promote specific industries or activities, such as technology, tourism, or agriculture. For example, the government has established the Turon SEZ in the Fergana Valley to promote agricultural production, and the IT Park SEZ in Tashkent to promote technology-based businesses. Overall, Uzbekistan’s FEZs and SEZs provide a range of incentives and benefits that make it an attractive destination for foreign investors. With a wide range of infrastructure and services available, as well as simplified regulations and tax exemptions, these zones are helping to attract more investment into the country. Free economic zones offer a variety of incentives to attract businesses and investments. Tax exemptions or reduced tax rates are a major incentive, as businesses can benefit from reduced operating costs. Companies may also enjoy simplified customs procedures, allowing them to move goods into and out of the zone quickly and easily. Access to a wide range of infrastructure and services, such as utilities, transportation, telecommunications, and banking, may also be available. Financing may be available in the form of grants, subsidies, and tax credits. Tariffs and duty-free importation of certain goods may also be offered. Streamlined administrative procedures can help businesses save time and money. Finally, a supportive regulatory framework can help ensure that businesses have the freedom to operate without unnecessary restrictions. There are currently 11 free economic zones (FEZs) in Uzbekistan. These FEZs have been established in various locations across the country, including Tashkent, Samarkand, Navoi, Jizzakh, and Bukhara. Each of these zones offers a range of incentives to businesses, including tax exemptions and reduced customs duties. Additionally, the FEZs provide access to high-quality infrastructure and services, as well as preferential access to foreign markets. The Uzbek government has also implemented a range of measures to encourage investment in the FEZs, including the provision of grants and loans.