Privileges were set for Khorezm entrepreneurs

Privileges have been introduced for entrepreneurs operating in the Khorezm region. This announcement was made today, March 1, during a meeting chaired by President Shavkat Mirziyoyev to discuss the region's socio-economic development priorities.

According to the report, imported equipment, spare parts, and raw materials will now be exempt from customs duties for a period of 5 years. Entrepreneurs are also permitted to defer the payment of value-added tax for 180 days.

Furthermore, localization projects will receive a 10 percent subsidy on loan interest, and those undertaking the privatization of state property or land plots will have the option to pay in installments over a 5-year period.

Additionally, a 25 percent discount is offered for real estate sales with payment made within 3 months. Entrepreneurs fulfilling obligations in economic and industrial zones will have the opportunity to privatize land and buildings.

Moreover, exporters will be reimbursed 50 percent of travel expenses for transporting raw materials from other regions through the Export Fund.