Uzbekistan introduces subsidies for cable car projects to boost tourism

The Cabinet of Ministers has approved a temporary regulation on the payment of subsidies for the construction of cable cars. The document has been published in the Lex.uz database.

The subsidies aim to stimulate the creation of modern infrastructure in areas with high tourism potential. The regulation is in effect until December 31, 2025, and applies to projects that started after January 1, 2024.

The first 20 cable cars with a minimum length of 500 meters, put into operation before the deadline, will receive compensation. The amount will be 1 billion UZS for every 500 meters.

To receive the subsidy, the investor company must not have any tax debts or dues as provided by the Tax Code. It must not be undergoing reorganization, liquidation, or bankruptcy.

The Tourism Committee will be responsible for disbursing the funds to investors. Along with the Ministry of Digital Development, it is tasked with launching the application process for subsidies through EPGU within two months.

The application must include a copy of the acceptance commission’s act on the acceptance of the cable car into operation. The Tourism Committee must review the application within 15 working days and then decide on whether to grant the subsidy or reject it.

If the conclusion is positive, the Committee will send an order to the Ministry of Economic and Financial Affairs within 3 working days, based on which the funds will be transferred to a treasury account within the next 3 working days. Subsequently, the money will be deposited into the investor’s bank account within 5 working days.