Open AccessThe applying of tax benefits in the free economic zones on attracting foreign and domestic investments
Author(s) -
Azizbek Rahmatov
Publication year - 2022
Publication title -
society and innovations
Language(s) - English
Resource type - Journals
ISSN - 2181-1415
DOI - 10.47689/2181-1415-vol2-iss12/s-pp240-246
Subject(s) - industrialisation , compromise , economic globalization , foreign direct investment , globalization , investment (military) , economics , economic transformation , state (computer science) , free market , special economic zone , business , economic system , international trade , international economics , economic policy , market economy , china , macroeconomics , political science , algorithm , politics , computer science , law
Free economic zones (FEZs) have been used by many developing countries as a policy tool to promote industrialization and economic transformation. The free economic zones represents a new unilateral compromise between the state and market, while still contributing to economic globalization, by presenting itself as a complementary or as an alternative approach to integrate with the global market in addition to the international economic law instruments.
This article considers general information and importance of tax benefits in the free economic zones in Uzbekistan which are becoming one of the most effective and promising forms of attracting investment for development of economic and scientific potential. Also, foreign experience on attracting investments and some proposals are given in this article.