Uzbekistan wants to attract foreign investors to modernise and manage airports across the Central Asia country in a bid to improve its investment climate after more than two decades of economic isolation that kept foreign private businesses at a distance.
The initiative was established under a decree issued by President Shavkat Mirziyoyev, who had made the attraction of foreign investors one of the top priorities of his ambitious reform agenda.
Modernisation will be held based on the public-private partnership (PPP) model and will grant three-year tax and customs exemptions for investors, according to the decree.
Private investors will be provided with a number of benefits for three years from the moment of signing the PPP agreement, including exemption from customs duties for imported special vehicles, construction equipment and machinery, spare parts and raw materials.
Benefits also include income and property tax cut by 50 percent for private partners and airports for a three-year period.
In addition, reconstructed airports will have a right to introduce the Open Sky regime that will abolish restrictions on flights of foreign airlines.