Azernews.Az

By Trend

The Uzbekistan Reconstruction and Development Fund has opened a credit line of $200 million to co-finance investment projects for the construction of hotels, adjacent road, engineering and communication infrastructures, the State Committee for Tourism Development told Trend.

Loans will be issued to business entities for a period of 15 years (grace period – 5 years) for the acquisition of imported equipment and technologies for hotels and objects of adjacent road, engineering and communication infrastructures.

The amount of loan allocated to one client can not exceed 50 percent of the project cost, and the amount of a loan given to one borrower should not be more than $10 million for one project.

All this is noted in the decree of President Shavkat Mirziyoyev “On additional organizational measures to create favorable conditions for the development of tourism potential of the Republic of Uzbekistan”, which introduces a number of benefits for business entities in the tourism industry.

Legal entities, the main activity of which is the organization of the theme park services, are exempt from paying corporate income tax, land tax and property tax, and a single tax payment for three years from the date of putting the park into operation.

Meanwhile, entrepreneurs working in the field of tourism are exempt from customs payments for imported vehicles of tourism class, meant for the transportation of eight or more people until January 1, 2022.

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