President Mirziyoyev introduces measures to ease land purchase costs for entrepreneurs

In Tashkent city and regional centers, buyers will be allowed to pay for purchased land over a period of up to three years. In other regions, the payment term can extend up to five years, and in districts of the 4th and 5th categories, up to ten years.

Photo: Presidential press service

During an open dialogue with entrepreneurs in Nukus city, President Shavkat Mirziyoyev highlighted that the rising costs of purchasing land due to the land market's development are significantly increasing expenses for new investment projects.

Entrepreneurs are struggling to allocate sufficient funds for construction, equipment, and machinery after paying substantial amounts for land.

It has been announced that the value-added tax (VAT) will no longer be calculated on land purchased through auctions by entrepreneurs.

For land purchases in Tashkent city and regional centers, buyers will be allowed to pay over a period of up to three years. In other areas, the payment term extends to five years, and in districts of the 4th and 5th categories, up to ten years. Entrepreneurs who choose to make immediate payment will receive a discount of up to 20%.

Additionally, for large projects, entrepreneurs will be able to include the cost of land as a state share in their charter fund. Entrepreneurs will have the option to purchase this share at any time. This change is expected to leave 3 trillion UZS at the disposal of entrepreneurs within this year.