Seven free economic zones of the pharmaceutical sector are created in Uzbekistan

| By | Drug Manufacturing, Investments, Uzbekistan

Shavkat Mirziyoyev, the President of Uzbekistan issued a decree on the creation of seven free economic zones, which specialize in the cultivation of medicinal plant raw material in special environmental conditions, as well as processing thereof.

New zones “Nukus-farm”, “Zomin-farm”, “Kosonsoi-farm”, “Syrdaryo-farm”, “Boysun-farm”, “Bustonlik-farm” and “Parkent-farm” will appear on the industrial map of Uzbekistan in the nearest future. Experts say that the appearance of these zones is quite an expected step aimed at activating the stagnant Uzbek pharmaceutical industry.

Zones will be created in pristine areas of Karakalpakstan, Djizak, Namangan, Syrdarya, Surkhandarya and Tashkent regions. A number of specialized governmental agencies will soon develop a special-purpose program for the creation of industrial plantations and a list of specific types of medicinal plants recommended for cultivation, followed by the organization of advanced processing and production of medicines and biologically active supplements.

All enterprises in the territory of the zones, depending on the investment volume, will be released for different periods from payment of land tax, profit tax, corporate property tax, tax on improvement and development of social infrastructure, unified tax payment for microfirms and small enterprises, as well as mandatory deductions to specialized state funds. They will also receive a number of customs preferences.