Navoi, Uzbekistan

Navoiy Free Industrial Economic Zone (FIEZ)

The Navoi Free Industrial Economic Zone (FIEZ) with special conditions for foreign investments was created in Navoi Region of Uzbekistan, nearby Navoi International Airport. It is due to operate for 30 years.

Businesses in FIEZ enjoy favourable customs, currency and tax regulations and simplified procedures for entry, stay and obtaining of work permit for non-resident citizens. They are exempt from taxes for a period depending on the amount of direct investments:

from 3 to 10 million dollars – for 7 years;

from 10 to 30 million dollars – for 10 years, with reduction of profit and unified tax payment rates by 50% in the next 5 years;

more than 30 million dollars – for 15 years, with reduction of profit and unified tax payment rates by 50% in the next 10 years.

Along with this, business entities will be exempted from paying customs duties (excluding charges for customs clearance) for equipment, raw materials and components imported for the production of export oriented goods. They will be able to make payments in foreign currency within the FIEZ, as well as to use convenient terms of payments for exported and imported goods.

Management of the FIEZ will be by an Administrative Council which may select an international company to manage the zone on a contract basis. A FIEZ development fund aimed to support infrastructure development is also planned.

13 joint ventures operate in Navoi FIEZ which produce car components, ADSL modems, LED lamps, cosmetics, diapers, and other products.[2]