Page 161 - Theoretical and Practical Interpretation of Investment Attractiveness

of oil and gas fields are exempt from all taxes for the period of this activity, as well as from
duties on the import of equipment necessary for the implementation of this activity. activity.
If an enterprise in this area is opened jointly with foreign partners:
- from income tax (income) for 7 years from the date of oil and gas production;
- foreign partners are exempt from income tax and property tax on the authorized
capital.
In the light industry:
- enterprises producing finished products are exempt from all taxes, except value
added tax;
- Enterprises are exempt from customs duties when importing production equipment
and spare parts for their own needs.
The Decree of the President of the Republic of Uzbekistan dated April 11, 2005 “On
additional measures to stimulate the attraction of private foreign direct investment”
contributes to further improvement of the investment environment in our country, carrying
out privatization, modernization of production, technical re-equipment and reconstruction.
The republic's surplus is aimed at broadly attracting private foreign direct investment in the
implementation of programs to create new jobs in regions where labor is available, as well as
ensuring reliable legal protection and guarantees for foreign investors.
According to it, enterprises in economic sectors that attract direct private foreign
investment are exempt from paying income tax, property tax, tax on the development of social
infrastructure and tax on regional improvement, the single tax established for micro-firms and
small enterprises, as well as mandatory contributions to budget. Republican Road Fund
Investments are released when:
- from 300 thousand US dollars to 3 million US dollars - for a period of 3 years;
- from more than 3 million US dollars to 10 million US dollars - for a period of 5 years;
- in the amount of more than 10 million US dollars - for a period of 7 years.
State regulation of investment activity, depending on the degree of liberalization of the
economy and the expansion of foreign investment, involves direct foreign investment in new
projects, as well as the involvement of a large number of private businesses in investment
activities. It is important to stimulate the influx of foreign investment while simultaneously
encouraging the participation of national economic entities in this activity.
Official institutions involved in regulating and attracting foreign investment in the
Republic of Uzbekistan are listed in table 4.2.1 .
Uzbekistan is a global community He is interested in the level of socio-economic
development, geographical location, composition and reserves of natural resources ,
economic policy pursued by the government.

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