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Uzbekistan plans to attract over $2 billion in foreign investment in light industry
On December 12, the President held a meeting devoted to measures to improve the effectiveness of reforms in the textile and leather industries. This was reported by the presidential press service.
As part of the development of the light industry, it is planned to attract more than $2 billion in foreign investment, implement 82 large projects and create 25 thousand jobs. It is expected that the export of textiles will reach $4 billion, and the export of leather products - $250 million.
It was noted that in the context of falling prices for cotton fiber on the world market, it is necessary to focus on the in-depth processing of fiber and yarn. For this purpose, additional support measures are provided for enterprises engaged in the production and dyeing of fabrics.
Responsible persons have been tasked with increasing the level of yarn processing to 70 percent. In addition, the abolition of a 10% fee on the export of sheepskin and goat skins this year contributed to the conclusion of export contracts for $3 million. An order was given to continue this practice next year in order to increase export volumes.
Reports from responsible persons on measures to provide tanneries with raw materials and plans for the future were also heard.
From January to September, Uzbekistan exported textile products worth $2.2 billion, which is 6.1% less than the same period last year.
