Thursday, 23, September, 2021

Uzbekistan will cut tax rates on gold, uranium, natural gas and oil production for foreign investors, announced the president Mirziyoyev at a ceremony dedicated to the start of the 3rd ore beneficiation plant project at the Almalyk Mining and Metallurgical Kombinat.

The President Shavkat Mirziyoyev added that more facilities are on the way for foreign investors.

In particular, it is planned to cut tax rates on copper and gold from 10% to 7%, natural gas and oil to 10%, uranium to 8% and tungsten from 10% to 2.7%. Such incentives are certainly of great interest to investors.

Currently, companies from Canada, France, Japan, Turkey, China and other countries are working on geological exploration and development of deposits in the country.

In addition, from next year, geological exploration standards will be fully switched over to international JORC standards. Over the next 5 years, the volume of ore mining and processing at all projects in the country will increase from 130 million tons to 300 million tons per year.

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