“GDP and income of the population in Karakalpakstan increased more than 2 times in 2017-2021” – Deputy minister

“GDP in Karakalpakstan is growing mainly in the directions of industry, construction, agriculture and services. Such changes are carried out under the personal attention of President Shavkat Mirziyoyev and the legal basis of the measures set out in the presidential decree “On measures for the comprehensive social and economic development of the Republic of Karakalpakstan in 2020-2023”, the deputy minister said in an interview with Kun.uz.

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In particular, in 2020-2022, within the framework of regional investment projects, 1,359 projects with a total value of 12.3 trillion soums will be launched and 17,500 new jobs will be created. In addition, many projects are being implemented to improve the living conditions of the population, such as the improvement of drinking water and energy supply, the repair and reconstruction of roads, kindergartens and hospitals.

Also, according to the directions of economic activity, which are designated as a unique “growth point” of the districts of the Republic of Karakalpakstan, until January 1, 2024, newly established business entities are exempted from paying land tax, property tax, small business turnover tax, fixed amount of income tax of individual entrepreneurs.

Newly established industrial business entities in Takhtakopir, Bozatov and Shumanay districts with a low level of socio-economic development until January 1, 2024:

•  exempted from payment of land tax, property tax, small business turnover tax, income tax of individual entrepreneurs;
•  have been paying profit tax and water tax in the amount of 50 percent of the current tax rates.

“Compared to GDP in 2017, per capita income increased from 4.9 million soums to 11 million soums in 2021. We believe that the standard of living of the population will increase further thanks to the many benefits specified in the decision and the investments being made,” Atamurat Shamuratov said.