Iranian Investors Exempt from Taxes and Customs Duties in Uzbekistan

TEHRAN (Iran News) Highlighting the deep historical and cultural ties between Iran and Uzbekistan, Aripov emphasized that current global events necessitate greater economic collaboration. He noted that such forums are vital for informing both sides about investment capacities, creating new opportunities, and enhancing mutual understanding.

“In meetings with Iranian officials, we identified industrial cooperation and the activation of technology exchanges as key strategic goals,” Aripov stated. He stressed the crucial role of entrepreneurs and the private sector in both countries in achieving these objectives.

According to Aripov, trade between Iran and Uzbekistan has reached a relatively stable level, with bilateral exchange currently valued at $500 million annually. However, he acknowledged that this figure still falls short of its full potential. Notably, the number of joint Iranian-Uzbek factories in Uzbekistan has surpassed 210, signaling significant progress.

The Uzbek Prime Minister also pointed to his country’s growing economy, projecting that Uzbekistan’s GDP will reach $160 billion within the next five years. Last year alone, the country attracted $70 billion in foreign investment, reflecting a stable and secure investment climate.

He further highlighted Uzbekistan’s ongoing reforms to bolster a free-market economy, including the introduction of tax incentives and other measures to boost production and attract foreign capital. In 2024, Uzbekistan exported over $2.5 billion in agricultural food products and holds free trade and preferential agreements with many countries—creating additional opportunities for economic cooperation.

“We assure Iranian economic actors that any capital brought into our industrial zones will be exempt from taxes and customs duties,” Aripov declared. “The government will provide all necessary infrastructure, and we will also guarantee the repatriation of investment profits.”

Meanwhile the Vice President of the Uzbekistan Chamber said that exchanging quality goods at competitive prices and establishing systematic trade relations between Iran and Uzbekistan are among the main objectives of the Uzbekistan Chamber.

Rasulov, speaking at the Iran-Uzbekistan Business Forum, added: The interest of Uzbek traders in conducting business with Iran is increasing. Given the incentives offered by the Uzbek government to attract foreign investments, Iranian traders’ interest in investing in Uzbekistan is also growing.

He stated that supplying chemical products, foodstuffs, and construction materials is a priority in trade with Iran. He added that the volume of bilateral trade between Iran and Uzbekistan has exceeded 497 million dollars, which still falls significantly short of the full potential of both countries. Therefore, measures should be taken to further increase the level of cooperation.

Rasulov said that 260 Iranian factories are operating in Uzbekistan, of which at least 160 are joint ventures. In addition, planning visits to specialized exhibitions and the exchange of updated trade delegations and commercial information on investment opportunities has contributed to advancing the two countries’ relations.

He noted that more than 100 Uzbek businesspeople visited Iran for Iran Expo 2025, stating that the Chambers of Commerce of both countries play a crucial role in organizing trade exhibitions and establishing cohesive relations between private sector traders from Iran and Uzbekistan. He emphasized that these efforts must be further strengthened.