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FREE ECONOMIC ZONES IN UZBEKISTAN: TYPES AND FAVORABLE
CONDITIONS Orzukulova ZA. (Republic of Uzbekistan) Email: [email protected]
Orzukulova Zumrad Abdukhalik kizi - Master Student, DEPARTMENT OF ECONOMIC THEORY, SAMARKAND STATE UNIVERSITY, SAMARKAND, REPUBLIC OF UZBEKISTAN
Abstract: according to the "Strategy for the Further Development of the Republic of Uzbekistan " development of the economic spheres are among the priorities. Taking into account special features of Uzbekistan 7 free economic zones have been created and 7 more will be created. Our government adopted laws to support creation of free economic zones which includes tax preferences, custom preferences and optimized administrative process for foreign and domestic investors. Based on the actuality of the above mentioned this abstract considers free economic zones in Uzbekistan.
Keywords: free economic zones, taxes, customs, investment, foreign investors.
СВОБОДНЫЕ ЭКОНОМИЧЕСКИЕ ЗОНЫ: ТИПЫ И УСЛОВИЯ
РАЗВИТИЯ Орзукулова З.А. (Республика Узбекистан)
Орзукулова Зумрад Абдухалик кизи - магистрант, кафедра экономической теории, Самаркандский государственный университет, г. Самарканд, Республика Узбекистан
Аннотация: развитие и либерализация экономики является одним из приоритетных направлений «Стратегии действий по дальнейшему развитию Республики Узбекистан». Исходя из особенностей развития регионов республики, в Узбекистане созданы 7 экономических зон, также запланировано создание еще 7 зон. Государство в данном направлении создает все условия, определяя налоговые преференции, таможенные льготы и оптимизируя административные процессы привлечения зарубежных инвестиций. Исходя из актуальности вышеперечисленных вопросов, в данной статье рассматриваются вопросы создания свободных экономических зон в Узбекистане.
Ключевые слова: свободные экономические зоны, налоги, таможня, инвестиции, зарубежные инвесторы.
In conditions of liberalization and modernization of the economy, in order to supply local market with products suitable to international standards it is important to create favorable conditions for foreign investments. And free economic zones are the most suitable tool for this aim.
Main purpose of organization of free economic zones is the promotion of economic development of a given region or industrial sector, in addition the use of free economic zones as a method of upgrading the regional economy in the period of transition to a market economy. It should be noted that free economic zones are used not only to attract foreign investment but also as a means of regional economic policy. International experience shows that if free economic zones are created in suitable region and have tax, custom preferences they will continue their activities by raising their share in GDP. For instance, free economic zone Manaus in Brazil produces almost half of domestic products in the region. Thanks to this new work places had been created. Wide range of electronic products had been produced and exported. Taking into account its beneficial sides, local government prolonged its activity and gave more preferences.
Observing international experience and analysing regions' socio-economic features and geographical conditions Uzbekistan has adopted several laws on creating favorable conditions for free economic zones. First time three free economic zones: Free Industrial Economic Zone Navoi, a special industrial zone Angren, a special industrial zone Djizak were created.
Free Industrial Zone Navoi was organized by the decree of the President of Uzbekistan 4059 of 02.12.2008 year [1]. It has special legal regime, including tax, currency and custom regimes, simplified procedure for entry stay and departure, as well as obtaining permits for employment non-resident citizens of the Republic of Uzbekistan. The main activity of business entities of this zone are to develop a wide range of high-tech industries, modern high-efficiency equipment and machinery, production lines and modules and innovative technologies.
Special industrial zone Angren and Djizak organized by the decree of the President of the Republic of Uzbekistan number 4436 of 13.04.2012 in the city of Tashkent region [2] and the presidential decree number 4516 of 18.03.2013, the Djizak in the field along with the branch of the district Syrdarya region respectively [3]. The main tasks and activities of these zones are considered to be creating an enabling environment to attract investment and effective operation of modern high-tech productions for competitive on the domestic and global markets products with high added value, providing integrated and effective use of production and resource potential of the region included in the special zones, deepening the process of localization of production of hightech products based on local raw materials and provision of advanced development and efficient use of the transport, engineering, communications and social infrastructure. These special zones have tax incentives abd preferences like income tax, property tax, the tax for the improvement and development of social infrastructure, single tax for small businesses as well as mandatory contributions to the Republican Road Fund. On top of that preferences in customs duties on the equipment, components and materials that are not produced in the country, imported into the territory of special economic zones on the list approved by the Cabinet of Ministers.
After successful beginning first step of creating process of free economic zones it comes turn to second step. The leader of country Shavkat Mirziyoyev has adopted presidential decree in 12.01. 2017 year about "Creation of free economic zones "Urgut", "G'ijduvon", "Qo'qon", and "Xazorasp" [4]. As mentioned in this decree these zones are created for:
- produce high added value competitive products, on base of local mineral resources, which are demanded in external market;
- attract local and foreign investment for deep reproduction of agrarian products with modern technology;
- organize favorable conditions for this activities;
-effective and complex use of productive, labour and resource potential of Samarkand, Xorazm, Bukhara and Fergana regions.
This gives wide range of opportunities for these regions to develop their local economy. New work places will be opened, entrepreneurs will widen their activities, local and foreign investment will be attracted.
In order to use resource and productive potential of Samarkand, Xorazm, Buxara and Fergana regions in these zones will be organized
- deep reproduction, storage ang packaging agrarian products , friuts and vegetables;
- to produce textile and carpet, shoes and leather products;
- ecologically safe chemistry, pharmaceutical, food and electronics industry;
- modern production trends of building materials.
It is also important to note that scientific-productive centre wiht international standards will be open to standardize, certify and marking products which will be produced in these free economic zones.
These free economic zones will continue their activities 30 years with probably further prolongation. There will be special tax, customs and currency regime in zones.
All administrative procedures will be realized on base of simplified "single window" system. Connection to transport, communications and other infrastructure wille supported by local government and higher governmental establishments. All of these preferences and simplified procedures are for the development of these regions by attracting foreign and domestic investment, especially direct investment.
The next step of development of free economic zones is creation of Seven free economic zones, specializing in production of pharmaceutical products. President of Uzbekistan Shavkat Mirziyoyev signed a decree "On creation of free economic zones Nukus-pharm, Zomin-pharm, Kosonsoy-pharm, Sirdaryo-pharm, Baisun-pharm, Bustonliq-pharm and Parkent-pharm". This decision was adopted to develop pharmaceutical industry of Uzbekistan and support producer of medicaments and medical products, saturate local market with high quality local medical products. Here it is also important to note that leader of country make this decision analyzing of local opportunities and demand of population. It logically can be called that third trend of "Action strategy" development of economy and liberalization goes under government control and support.
According to the decree, free economic zones Nukus-pharm, Zomin-pharm, Kosonsoy-pharm, Sirdaryo-pharm, Baisun-pharm, Bustonliq-pharm and Parkent-pharm are created in Uzbekistan. Zones are created in Jizzakh, Namangan, Syrdarya, Surkhandarya and Tashkent regions, as well as Karakalpakstan.
The president of country ordered to develop a program on creating industrial plantation and list of concrete types of medical plants, recommended for production with further deep processing and production of medicaments and dietary supplements in the territory of new free economic zones.
The decree said that modern production capacities on processing medical herbs and production of medicaments and medical products, auxiliary and packaging materials will be created in new zones. This will help to deepen localization of production of pharmaceutical products based on local medical herbs and materials. Economic zones created for 30 years with opportunity to extend it. Special tax, customs and currency regimes will be applied in new zones.
The participants will be exempted from payment of some taxes, mandatory payments and customs payments based on the size of their investments. The participants of the zones will receive access to road-transport and engineering-communication infrastructure.
President also recommended banks to provide loans to create new production capacities at these zones and production of medical herbs. If the project initiators have no enough resources to get the loans, the banks will supply equipment for leasing.
Overall, economic development of country takes it upward trend and organization of free economic zones have its share in this process. Up to date there were 7 free economic zones and seven more will be created in Uzbekistan. We may say that Uzbekistan has enough opportunity and favorable conditions for free economic zones.
References / Список литературы
1. Decree of the President of the Republic of Uzbekistan number 4059 of 02.12.2008 "On the
organization of free industrial and economic zone in Navoi region".
2. Decree of the President of the Republic of Uzbekistan number 4436 of 13.04.2012 "On the creation of a special industrial zone Angren".
3. Decree of the President of the Republic of Uzbekistan number 4516 of 18.03.2013"0n the creation of a special industrial zone Djizak".
4. Decree of the President of the Republic of Uzbekistan of 12.01.2017 "On the creation of free economic zones "Urgut", "Xazorasp", "Qo'qon", "G'ijduvon".
5. IMPACT: International Journal of Research in Business Management Vol. 1 Issue 7, Dec 2013, 9-12.
6. [Electronic resource]. URL: http://www.uzdaily.com/ (date of access: 14.08.2017).
COUNTRIES THAT SHOULD BE INCLUDED IN OUR ECONOMIC FORUM AND A PROFITABLE POLICY FOR OUR INTERNATIONAL
RELATIONSHIP Molchanova A.A. (Mongolia) Email: [email protected]
Molchanova Angelina Alexandrovna - Bachelor, DEPARTMENT OF FINANCE AND CREDIT THE ULAN-BATAR BRANCH PLEKHANOV RUSSIAN UNIVERSITY OF ECONOMICS LANGUAGE EDUCATION INSTITUTE OF MIU, ULAN-BATAR MONGOLIA
Abstract: this article is devoted to the analysis of the current economic policy of Mongolia in relation to partnering countries, an alliance which is most beneficial. The changes that have occurred recently between Mongolia and Russia, including the smooth reorientation of Mongolian policy with the aim of attracting a new investor - America is being considered. Also, described are the positive discussions that arose from the Mongol-American cooperation, which the governments of these countries undoubtedly approve. Keywords: partnership, economy, Mongolia.
ГОСУДАРСТВА, КОТОРЫЕ СТОИТ ВПУСКАТЬ НА СВОЮ ТЕРРИТОРИЮ, ИЛИ ПРАВИЛЬНАЯ ПОЛИТИКА ПАРТНЕРСТВА
Молчанова А.А. (Монголия)
Молчанова Ангелина Александровна - бакалавр, кафедра финансов и кредита, Российский экономический университет им. Г.В. Плеханова (филиал) языковой образовательный институт Монгольский международный университет, г. Улан-Батор, Монголия
Аннотация: статья посвящена анализу текущей экономической политики Монголии в отношении стран-партнеров, союз с которыми наиболее выгоден и популярен в текущий период. Рассмотрены изменения, произошедшие в последнее время в рамках монголо-российской политики партнерства, в том числе и плавная ее переориентация с целью привлечения нового и «богатого» инвестора - Америки. Также описаны положительные моменты, возникшие вследствие монголо-американского сотрудничества, которые правительства данных стран, несомненно, одобряют. Ключевые слова: партнерские отношения, экономика, Монголия.
What do we imagine when anybody is speaking about Mongolia? Basically, most people remember about the famous Genghis Khan, his military success and conflict with Russia. Others turn their minds to
