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5МЕНЕДЖМЕНТ
UZBEKISTAN: GROWTH OF THE INVESTMENT CLIMATE IN THE
FREE ECONOMIC ZONES
Shermukhamedov Abbas Tairovich,
PhD, doctor of phyz.- math. sci., prof.
Tashkent branch of the Russian economic university after G. V. Plekhanov, Uzbekistan, Tashkent, street of Islam Karimov, 49, kor.7
Israilova Nilufar
Candidate of econ. sci.,ass. prof., chief of chair «International economy»
Tashkent State economic university Tashkent, street of Islam Karimov,49
УЗБЕКИСТАН: РОСТ ИНВЕСТИЦИОННОГО КЛИМАТА В СВОБОДНЫХ ЭКОНОМИЧЕСКИХ ЗОНАХ
Шермухамедов АббасТаирович
д.ф.-м.н., проф.,
Ташкентский филиал Российского экономического университета им.
Г.В. Плеханова, Узбекистан, Ташкент, ул. Ислама Каримова, 49, кор. 7
Исраилова Нилюфар к.э.н., доц., заведующая кафедрой «Международная экономика» Ташкентский Государственный экономический университет Узбекистан, Ташкент, ул. Ислама Каримова,49
Abstract: In article questions of an investment climate in free economic zones of Uzbekistan, as "Navoi" are considered. "Angren", "Sirdaryo", "Dzhi-zak", "Buhoro-agro", "Nukus-farm", "Zomin-farm", "Kosonsoj-farm", "Sirdaryo-farm", "Bojsun-farm", "Bustonlik-farm" and "Parkent-farm" who can be defined five groups of factors.
Аннотация: В статье рассматриваются вопросы инвестиционного климата в свободных экономических зонах Узбекистана, как «Навои». «Ангрен», «Сирдарё», «Джизак», «Бухоро-агро», «Нукус-фарм», «Зомин-фарм», «Косонсой-фарм», «Сирдарё-фарм», «Бойсун-фарм», «Бустонлик-фарм» и «Паркент-фарм», которые могут быть определены пятью группами факторов.
Keywords: free economic zones, customs privileges, tax privileges, financial privileges, projects, investments.
Ключевые слова: свободные экономические зоны, таможенные льготы, налоговые льготы, финансовые льготы, проекты, инвестиции.
The analysis of many free economic zones (FTZ) in the world has shown that in them the considerable foreign capital, for them is characteristic a particular
treatment regulating use of labor, clearing of businessmen of payment of payments in the social insurance funds, essential customs, tax, financial privileges and privileges. FTZs functioning in Republic of Uzbekistan (RUz) have a number of common features and the moments of development from foreign countries, for example, their consideration as special territorial units tending to improvement of the infrastructure, and a particular treatment of management FTZ to become more and more liberal and preferential for foreign businessmen. In working out of a package of privileges Government RUz has applied an individual approach to everyone FTZ, proceeding from variety of socio-economic factors of each region of the country. Government gives the great passivity for developed and successfully operating package of privileges for residents of free industrial economic zones (FTEZ). For example, privileges FTEZ of "Navoi" has not been mechanically copied for a free industrial zone of (FTZ) "Angren" of "Dzhizak". The decree of the President of Republic of Uzbekistan from March, 18th, 2013 № yn-4516 «About creation of a special industrial zone "Dzhizak" government creates a free economic zone "Dzhizak" in the Dzhizak area with branch in Syr-Darya area of Syr-Darya area and its borders are confirmed.The individual approach in everyone FTZ was carried out not only in definition of tax privileges, but conditions and terms of granting of these privileges were considered individually. In FTZs "Angren" and "Dzhizak" the bottom lath of necessary volume of investments for reception of offered privileges and preferences has been established more low, than in a case with FTZ "Navoi". Distinction between FTZ on conditions of reception of privileges and on terms of their action are caused by advantages which are available in FTZ "Angren", "Dzhizak" and serve as additional stimulus for foreign investors, the factor of growth of quantity of labor in the cities of Angren and Akhangaran was thus considered. Creation in the Dzhizak area FTZ "Dzhizak" has allowed the companies of the China (People's Republic of China) to realize 6 projects for the $9 million, and goods turnover from the People's Republic of China for 2018 has made $66 million for FTZ "Angren". In general $185.8 million is realized eight projects in the total cost for FTZ "Angren". For functions of FTZ "Angren» JV (Joint Venture) Open Company "Uz-Prista" play great role for recycling of processing of the fulfilled technical oils, on new the enterprise is created 50 new workplaces. The Bulgarian company "Prista Oil Holding" has created two new enterprises in the territory FTZ "Angren". The company creates JV "Uz-Ecoprotect" and JV "Uz-Prista" Recycling within the limits of creation of modern manufacture of base engine oils with a complete work cycle on gathering and processing of the fulfilled technical oils. JV "Uz-Ecoprotect" is engaged in gathering, storage and transportation of the fulfilled technical oils. Its founder's the company of "Uznefteprodukt" - 49 %, company "Prista Recycling" (Bulgaria) - 51 %. The fund of the new JV is $1 million in Uzbek-Korean JV "Uz-Shindong Silicon" has finished building of the enterprise for manufacture of technical silicon by capacity of 5 thousand tons in a year. Project cost was made by $10 million and 22 more projects accustom on manufacture of details for cars, production of household chemical goods, medicines, the goods from a skin, etc. As Partners of
the Uzbek party in realization of this project the Singapore companies "Welton International Enterprises Pte" have acted. "Kito Investment Pte.Ltd" and Austrian "SEID Handelsgesellschaft MBH". With a view of complex and rational use of industrial and resource potential of Syr-Darya area, creation on this basis of new workplaces and increases of incomes of the population has been created FTZ "Sir-daryo". In this FTZ straight lines private investments, including foreign, and high technologies for creation of modern manufactures in such spheres as deep processing, storage and packing of fruit-and-vegetable and agricultural production, development textile, shoe, Kom^anaHTepeftHon, the chemical, food, electro technical industry, agricultural mechanical engineering, the industry of building materials and others will be involved. In it the FTZ processes of localization of manufacture of hi-tech production on the basis of local raw materials and materials will go deep. In the FTZ "Sirdaryo" the enterprises, on deep processing of a mineral-source of raw materials are created, and the modern enterprises for processing, storage and packing of fruit-and-vegetable and agricultural production, textile, shoe, Ko^ranaHTepefiHofi, the chemical, food, electro technical industry, agricultural mechanical engineering, the industry of building materials are created. The innovative and socially focused way of development of areas RUz assumes its multipolar development and formation new FTZ that will promote further to occurrence of the new centers of the innovative growth, leaning against concentration of human and technological potential. In FTZ "Sirdaryo" will have advancing development logistical services. According to the Decree of the President of Republic Uzbekistan from May, 3rd, 2017 №2 yn-5032 have been created the "Zomin-farm", "Kosonsoj-farm", "Sirdaryo-farm", "Bojsun-farm", "Buston-lik-farm" and "Parkent-farm" and "Nukus-farm".
By decision the Cabinet of Ministry of Republic of Uzbekistan from 1.16.2018 year, N 29 will solve organizational questions on selection of investment projects for realization in FTZ and these questions is assigned to working body of administrative councils of free economic zones and small industrial zones in Republic of Karakalpakstan. Obligatory criteria at placing of investment projects in territories FTZ are: creation hi-tech manufactures, according to the parameters established by the legislation for projects of localization; volume of export after the beginning of industrial activity - not less than 20% in the second and not less than 30%- in the third and the next years; creation of new workplaces in the quantity defined by administrative councils, including with an establishment of 10% quota on reception needing employment under the lists given by the Federation Council of trade unions; completion of staff of workers of the created organization from among citizens of Republic of Uzbekistan in number of not less than 95% from an aggregate number of the involved workers, with granting of possibility of passage of training by it and improvements of professional skill. The investment climate in FTZ areas of the Republic of Uzbekistan is defined by action of five groups of factors:
1. Geopolitical position of area and in its natural-resource potential, its frontier position, passage through its territory of the major transport ways, the neighborhood with industrially developed regions of republic that raise its appeal to investors. Special value for investors can have presence of the source of raw materials which extraction raises a region export potential.
2. In industrial both financial potential of area and a condition of its regional commodity markets. To investors the areas possessing the developed industrial infrastructure, labor of necessary qualification, possibilities for mobilization of financial resources are more attractive.
3. A level of development of a market infrastructure, especially such market institutes as banks, it is wholesale-intermediary firm, trading houses, the insurance, investment and leasing companies, investment funds etc. depend On presence of these market institutes formation of the markets of the capital and possibility of mobilization of financial resources for investment at the expense of attraction of means of managing subjects, savings of the population, release of securities, credit resources of banks. Influence of this group of factors especially important for the countries with transitive economy, i.e. carrying out radical market transformations of the economy.
4. Though in republic there are favorable conditions for the taxation, introduction of side benefits for foreign investors in priority spheres of economy of area.
5. The noneconomic factors influencing a risk level of investment activity. The investment climate in RUz is estimated in the tax and customs legislation that have caused considerable progress in improvement of an investment climate.
As well as any other difficult economic event, investments of foreign capitals can have positive influence on economy of host countries. Host countries and their economic subjects; develop joint business with foreign partners, to carry out reasonable to the policy of regulation of foreign investments which allows using their positive effects to the full. The projects realized in RUz, in the food, oil and gas, metallurgical and electro technical industries yield good results. One of large-scale projects in the Republic of Uzbekistan is the new sugar factory. Project cost is $108.5 million has made capacity of the enterprise will make 1 thousand tons of sugar a day. Among problems FTZ an important place manufacture, processing and export of agricultural production, formation of a modern infrastructure of logistics, the organization of nurseries of sprouts and saplings of demanded agricultural crops, and also primary seed-growing. By fast rates it has started to be realized in RUz the "Bukhoro-agro". Financing of projects in territory of "Buhoro-agro" is carried out at the expense of means of the international financial institutions, initiators of the project, including direct investments, and also credits of commercial banks and other sources. Thus the size of own means of the initiator of the project cannot be less than 25 %. In the FTZ with attraction of direct foreign and domestic investments modern hothouse economy, including with technology
application hydroponics, on a basis cluster forms will be placed, and also manufacture of designs, the equipment and other completing products for building of power saving up hothouses is adjusted.
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