A draft decree of the President of Uzbekistan “On measures on developing and further stimulating the information-communication technologies sphere and local software market” was published at the portal of discussion of normative-legal acts. (https://regulation.gov.uz/ru/documents/1262)

The draft decree said that free economic zone “Innovative Center of Information-Communication Technologies”, if created, will function till 1 January 2030 in the territory of IUT. At the same time, the territory of the zone can be expanded, while functioning period can be prolonged, the document said.

The zone will create necessary technical, financial and economic conditions to stimulate production of software and hardware-software systems, primarily export-oriented, and meet needs of key sectors of economy and social sphere of Uzbekistan in these products.

The free economic zone will also attract investment to implement competitive projects in the field of information and communication technologies and software in the domestic and foreign markets.

One of priority areas of the free economic zone will be formation of research infrastructure to attract highly qualified specialists and develop their professional skills.

The zone will also provide support to the projects and innovative ideas of entrepreneurs and talented youth in the field of ICT.

It will expand cooperation of research organizations, universities and businesses through the implementation of joint projects.

The draft decree noted that special currency and tax regime will be applied for the participants of the free economic zone during all period of its operation. The simplified taxation order will be also offered to the participants of the zone.

The participants of the zone will be freed from payment of all types of taxes and mandatory payments to the state funds, as well as social payments during operation of the free economic zone “Innovative Center of Information-Communication Technologies”.

The participants of the free economic zone “Innovative Center of Information-Communication Technologies” will be able to make payments in hard currency in the territory of Uzbekistan, including salaries of employees in cash and cashless forms, as well as payment of dividends.

They can also export their works and services, related to production and maintenance services of software, for hard currency via online shops without signing export contracts.

The participants of the zone will be freed from mandatory payment of hard currency revenue, received from exports of goods (services, works), produced by them within the activities of the free economic zone “Innovative Center of Information-Communication Technologies”.

Till 1 January 2030, the participants of the free economic zone “Innovative Center of Information-Communication Technologies” will be freed from payment of customs duties (except registration fee) for imported equipment, spare parts, technologic documentation and software, which are not produced in Uzbekistan, the list of which should be approved by Administrative Council of the zone.