During the Third Tashkent Investment Forum in Tashkent, the capital of Uzbekistan, the country’s President Shavkat Mirziyoyev announced that Uzbekistan will abolish the dividend tax for investors. Previously the country's dividend tax rate was 10%.
The President of Uzbekistan also said that the period of land leased by foreign investors in the country will also be increased from 25 years to 49 years. Apart from this, tax audits are not performed on higher rated business entities.
Representatives from various countries participating in the meeting spoke highly of the news announced by the President of Uzbekistan. Some participants pointed out that as competition for foreign direct investment intensifies globally, such business incentives have a great positive impact on local businesses and will give Uzbekistan an advantage in attracting investment.
During this forum, Kazakhstan’s investment environment was also actively discussed by all parties present.
Kazakhstan is ahead of many other countries in terms of direct investment in the economy. For example, Uzbekistan's largest metallurgical products manufacturer plans to implement a new project worth US$70 million in Kazakhstan.
In recent years, investment cooperation between Kazakhstan and Uzbekistan has developed rapidly. 60 production projects have been started, with a total cost of more than 2.5 billion US dollars. Among them, in addition to traditional agriculture and raw material production, there are also emerging industries. For example, Uzbek businessmen engaged in light industry in Kazakhstan and began to produce household appliances, while Kazakh businessmen focused on the construction of new modern residential projects and the operation of chain stores.
Commentaires