Uzbekistan: New investment incentives in SDRs “Uzbekistan – Hungary”

Узбекистан усиливает инвестиционную привлекательность в рамках стратегического партнёрства с Венгрией, создавая условия для системного привлечения европейского капитала. Одним из ключевых шагов в этом направлении стало принятие нового Постановления Президента Республики Узбекистан, которое закрепляет ряд льгот и преференций для иностранных инвесторов на территории Специальной промышленной зоны “Узбекистан – Венгрия”.

The SDR is located in the Akhangaran district of Tashkent region and is aimed at attracting Hungarian and European companies. The decree defines specific tax and administrative incentives, as well as establishes investment obligations of the state to provide the necessary infrastructure.

In particular, residents are granted tax benefits for a period of up to 10 years, provided for by the legislation on special economic zones. The SDR management company is granted autonomous powers to place investors, which reduces the bureaucratic burden and accelerates the launch of new production facilities. At the same time, the state undertakes to build engineering, communication and transport infrastructure.

The key document approved by the resolution was the Investment Agreement between the Republic of Uzbekistan and the Hungarian company Inpark, which defines the parameters of interaction between the parties and the legal regime for the operation of the SDR.

In addition, an Administrative Council has been formed under the chairmanship of the Prime Minister of the Republic of Uzbekistan. Its task will be to coordinate the implementation of projects within the zone, as well as monitor compliance with the construction schedule of infrastructure facilities.

The creation of SDRs is accompanied by extensive institutional and legal support. Currently, Uzbekistan and Hungary have 64 bilateral documents in force, including agreements on investment protection and double taxation avoidance. The current Partnership Agreement with the European Union provides the most-favored-nation treatment for European businesses in the Republic.

Joint projects are already being implemented at the intergovernmental level in the fields of pharmaceuticals, agriculture, mechanical engineering and hotel business. Major steps include the participation of Hungarian OTP Bank in the privatization of Ipoteka Bank, as well as the creation of poultry clusters with Hungarian capital.

Создание зоны “Узбекистан – Венгрия” направлено на активизацию прямых инвестиций, ускорение промышленной кооперации и стимулирование экспорта. Предполагается рост производственной базы в высокотехнологичных и экспортно-ориентированных отраслях, включая фармацевтику и агропромышленный комплекс.

Against the background of geo-economic changes, Uzbekistan is demonstrating its readiness to strengthen integration into European production chains and strengthen its position as a reliable partner for foreign businesses.