President of Uzbekistan Shavkat Mirziyoyev signed a decree on the creation of a free tourist zone "Charvak", which will be located within the Chimgan-Charvak resort and recreation zone of the Tashkent region.
The final boundaries of the tourist zone will be determined within a month in the form of a single territory or separate sites.
In the free tourist zone, modern hotel complexes, cultural and recreational facilities, shopping and entertainment and other tourist facilities will be built, and the creation of modern engineering infrastructure facilities is planned.
The first tourist zone created in the country will have the status of a free economic zone (FEZ) with all envisaged benefits and preferences. The term of its operation is 30 years with the possibility of subsequent extension.
The main objectives of the "Charvak" tourist zone are attraction of foreign and domestic investments for the implementation of projects for the creation of modern tourist infrastructure facilities, as well as special seasonal recreation areas.
In accordance with the presidential decree, the Fund for Reconstruction and Development of Uzbekistan was instructed to open a preferential credit line for $ 100 million to co-finance investment projects implemented in the tourist zone.