“Nukus” free economic zone established

President Shavkat Mirziyoyev signed a decree on measures to create the “Nukus” free economic zone (FEZ), the Ministry of Justice reports.

In accordance with the decree, “Nukus-farm” free economic zone has been transformed into “Nukus” free economic zone.

The main objective of the “Nukus” FEZ is to attract direct foreign and domestic investments for the production of import-substituting products that are in demand on foreign markets.

The duration of the “Nukus” FEZ is 30 years. Special tax and customs regimes are applied in its territory.

The decree established that participants in the “Nukus-farm” FEZ will receive the status of participants in the “Nukus” FEZ without undergoing additional procedures. They will retain the previously provided benefits and preferences provided for by law.