Uzbekistan is creating a tax-free zone for projects in the field of artificial intelligence (AI) and data processing centers (DPC) in the western region of Karakalpakstan. This was reported by Reuters, citing the country’s government.
Foreign companies willing to invest 100 million US dollars or more will be fully exempt from taxes and customs duties until 2040. The government has promised to build the necessary infrastructure and provide electricity at preferential rates.
According to Reuters, the government has not yet announced when infrastructure construction will begin. The names of the companies intending to participate in the project in Tashkent have also not been disclosed.
Uzbekistan plans to attract more than 1 billion dollars of foreign investment for the development of AI and IT infrastructure by 2030.
