“OLMAZOR SMALL INDUSTRIAL ZONE” JSC was established based on the Resolution of the President of the Republic of Uzbekistan dated May 18, 2017 No RP-2973 "On the establishment of small industrial zones in Tashkent". Its main activity is based on the long-term lease of tenant enterprises located on the company's territory, which creates favourable conditions for developing their production. The total area is 14.1 ha, the area of buildings and structures is 82 thousand square meters.
The company, through the Supervisory Board, leased 48.2 thousand square meters of manufacturing space on privileged terms to 52 small businesses and private entrepreneurs, including (enterprises producing textile and chemical products, food products, electrical goods, furniture, modern building materials, and other types of manufactured goods for domestic and foreign markets) in its territory.
The nominal stock price of "OLMAZOR SMALL INDUSTRIAL ZONE" JSC is 54 550 soums and the total number is 1 353 452. As a result of the opportunities provided by the society, organisations and enterprises in the industrial zone produced goods worth 98 billion soums for the first 9 months of 2020 and including exports of $813,000. Currently, more than 820 jobs are created in the industrial zone.
Production areas, buildings and land on the company's territory are leased to entrepreneurs for a long term of up to 10 years. Entrepreneurs also have the right to lease or privatise their land for another 10 years if they can complete their investment and other obligations on time. There are more than 30 production buildings and structures, as well as engineering and technical infrastructures in the territory of the society. The management of the small industrial zone is working to fulfil the task set by the Cabinet of Ministers to develop small business production, the introduction of higher technology, science and technology and the creation of favourable conditions for manufacturers in small industrial zones.
“OLMAZOR SMALL INDUSTRIAL ZONE” JSC has a number of competitive advantages:
-The rights of firms and companies registered in the region are protected by law;
-Small industrial zones and large industrial projects with the direct foreign and domestic investment are financed from the state budget and budgetary loans.
-Businesses in a small industrial zone are exempt from certain taxes, and other benefits are available to businesses that fulfil their obligations on time, and these benefits provide a financial advantage of 10-15% over other enterprises.
On January 13, 2020, a general meeting of shareholders was held at the “Olmazor Small Industrial Zone” JSC. At the meeting, decisions were made to improve the effectiveness of the community. Also, since January 13, 2020, the application of the "Corporate Governance System" in state-owned enterprises has been introduced in social activities.
In 2021-2022 the company is planning to transfer its financial and accounting reports from the National Accounting Standards of the Republic of Uzbekistan (NAS) to the International Financial Reporting Standards (IFRS).
|Indicators (in thousand UZS)||Change over previous year||2020||2019 (IFRS)||2018 (IFRS)||2017 (NAS)|
|Revenue||-19%||3 149 613||3 873 756||2 055 360|
|Cost of sales||-93%||133 877||2 029 048||1 100 966|
|Gross Profit||63%||3 015 736||1 844 708||954 394|
|Distribution costs||-40%||8 851||14 641||-|
|Administrative expenses||173%||2 974 987||1 089 371||1 050 476|
|Operating expense||31%||2 549 875||1 946 533||1 807 565|
|Other operating income||-75%||2 826 429||11 314 288||1 783 266|
|Operating Profit||-97%||308 452||10 108 451||-120 381|
|Finance income||6058%||257 975||4 189||19 590|
|Foreign currency revaluation income||-||-||-||-|
|Finance expense||-100%||-||261 502||200 066|
|Profit Before Tax||-94%||566 427||9 851 138||-300 857|
|Income tax||-70%||250 655||837 687||9 958|
|Net profit||-96%||315 772||9 013 451||-310 815|
|Year||Accrued dividends (In.B.UZS)||Payout ratio of the net profit
(According to NAS)
|2020 (business plan)