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Investors who have established the production of products from minerals in Uzbekistan will return rental tax

The reserves of minerals of Uzbekistan are estimated at 3 trillion dollars, the president said. According to him, in the Tashkent and Samarkand regions, technology parks of metals of the future are being built. Investors that implements a full cycle of production from minerals will return the rental tax.

Uzbekistan President Shavkat Mirziyoyev during a performance at the plenary session of the Tashkent International Investment Forum said that the country has significant potential in the field of technological minerals, and urged investors to develop production with high added value.

“The fourth industrial revolution increases the demand for technological minerals several times. In Uzbekistan, significant reserves of tungsten, molybdenum, magnesium, lithium, graphite, vanadium, titanium and other minerals were identified. In general, the potential of our underground wealth is estimated at 3 trillion dollars (at the end of December, it was reported to estimate $ 1 trillion - ed.), ”The president emphasized.

According to the head of state, Uzbekistan intends to turn the region into a center for production from strategic raw materials.

“We have all the possibilities for our region to become a center for production with high added costs from minerals. In this direction, we are building the technology parks of metals of the future in the Tashkent and Samarkand regions, ”he said.

The President also made a new initiative aimed at stimulating investment in the mining and processing sectors.

“Investors who have established a chain of production of finished products, starting with exploration work, will return to the rental tax within 10 years,” Mirziyoev announced.

He expressed confidence that "long -term fruitful relations with partners will turn into mutually beneficial business cooperation in all mentioned areas."

In May last year, the president, telling investors about the possibilities of partnership, emphasized that the country has deposits of more than 30 rare earth metals. Shavkat Mirziyoyev said that Uzbekistan is working on cooperation agreements in the field of critically important raw materials with the United States and Great Britain. In September, Uzbekistan and the United States signed a memorandum of understanding in the field of critical minerals in Tashkent, the purpose of which is to strengthen cooperation in the field of minerals.

In February, Uzbekistan has reached agreements with three leading Malaysia players to create joint projects in the field of critical minerals.

Mingeology of Uzbekistan and the French Geological Service (BRGM) plan to develop a project to extract minerals.

The European Union and Uzbekistan are also working on projects in the field of critically important minerals.

A special rental tax was introduced in Uzbekistan from January 1, 2022 for taxpayers producing precious, non -ferrous and radioactive metals, rare and rare -earth elements and their release from technological mineral products (gold, silver, platinum, uranium, copper, zinc and others), oil production (gas, oil, gas condensate). Earlier, some companies were given tax benefits.



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