On August 17 of this year, a Resolution of the President of the Republic of Uzbekistan “On measures to develop entrepreneurship in the Khorezm region and increase its investment attractiveness” was signed.
According to the new document, it is planned to create a new investment company Khorezm Invest Project LLC, with an initial authorized capital of $ 30 million. The company will develop feasibility studies for investment projects and attract domestic and foreign investors to implement projects in the Khorezm region.
The targeted program for the development of entrepreneurship and increase of investment activity in the region will be a list of 84 investment projects worth 2.2 trillion soums implemented in the Khorezm region in 2020-2022 and a list of 26 promising investment projects with a total value of $ 516.8 million. The Center for the Development of Investment Projects under the Ministry of Investment and Foreign Trade was instructed to develop business plans within three months.
based on international standards 26 promising large investment projects indicated in the list.
The decree also provides for the expansion of the territory of the FEZ “Khazarasp”, due to unused land plots in agriculture
and construction of the necessary infrastructure in the annexed territory. The corresponding diplomatic missions of the Republic of Uzbekistan in foreign countries will be assigned to the territory of the free economic zone “Khazarasp” in order to attract foreign investors to investment projects.
More details on the document can be found on the Investment Portal of Uzbekistan.
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