Uzbekistan Has Become A Key Investment Area For The World Textile Industry.

< p > Republic of Uzbekistan is now the world's sixth largest cotton producer and the second largest exporter of cotton, and has rich raw materials in developing a target= "_blank" href= "//www.sjfzxm.com/" > textile < /a > industry.

It has become a key investment area in the world textile industry.

In order to develop the textile industry, the local government encourages local enterprises to expand the industrial chain and strive for a broader market. On the other hand, they actively attract overseas investment. At present, Singapore, South Korea and China have increased their investment here to make use of the rich cotton resources.

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< p > Republic of Uzbekistan is a landlocked country located in Central Asia. It is one of the two dual landlocked countries in the world. It is now the sixth largest cotton producer in the world and the second largest exporter of cotton. It has abundant raw materials in developing the textile industry.

It has become a key investment area in the world textile industry.

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< p > the Uzbekistan government has striving to expand the industrial chain for the development of the textile industry to encourage its own textile enterprises to expand the industrial chain and strive for a broader market. In particular, President Karimov declared the "2011-2015 year focus of Uzbekistan's industrial development" announced in December 15, 2010 and the "2012 Uzbekistan investment plan" announced in December 27, 2011, which opened a broad prospect for the Uzbekistan textile industry.

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< p > in which the Uzbekistan state stock company "O" zbekyengilsanoat will complete 28 investment projects by the end of 2012.

O 'zbekyengilsanoat company will have 290 companies. The products are covered with cotton yarn, fabric, sewing, sewing and knitting products, and knitwear.

Many companies are joint ventures with foreign investors under favourable and favorable legal framework.

Under normal circumstances, the 28 projects fully implemented at the end of 2012 are expected to increase the output of cotton yarn by 60 million 500 thousand tons, increase the output of cotton cloth by 7 million 500 thousand meters, and increase the output of knitted fabrics by 6 million 200 thousand tons. < a target= "_blank" href= "//www.sjfzxm.com/" > clothing < /a > and knitted apparel production increased by 3 million 700 thousand, and at the same time, 40 paper tape machines will be produced.

The company will continue to use new technologies and new high-tech production facilities to create new jobs in 2013.

Improve the processing capacity of cotton fiber and expand exports of finished products to overseas countries.

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< p > in addition to encouraging the development of its textile industry, Uzbekistan is also actively attracting overseas funds to encourage overseas enterprises to invest in the textile industry.

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< p > the joint venture textile enterprise of Uzbekistan and new GAPP, "IndoramaKokandTextile", was jointly established by Singapore's "IndoramaIndustry" company and Uzbekistan bank in July 2011, with a capital rating of 18 million US dollars, 76% of its investment from the new side, and the remaining 24% from Uzbekistan "IndoramaKokandTextile". Currently, it is one of the major textile enterprises in Central Asia, equipped with advanced production equipment, and its products are exported to Germany, Spain, Turkey, Belgium, France, Brazil and Argentina.

Ukrainian President Karimov visited the company in October 2011.

In early 2013, Singapore "IndoramaPte.Ltd" company invested $31 million to expand the "IndoramaKokandTextile" production capacity of uwu joint venture textile enterprise in the Ukrainian Fergana area. After the expansion, the joint venture textile enterprise will produce more than 5000 tons of lint per year.

At present, the plant is processing 9000 tons of lint per year. By the end of 2013, the linen processing capacity of the plant is expected to reach 16000 to 20000 tons / year.

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(P) Korea's Textile Technology Group (TTG) has completed the construction of a $70 million textile factory in Tashkent, Uzbekistan, the state-run Uzbeklegprom company said.

The new factory can process 8000 tons of cotton every year, producing 6000 tons of cotton yarn, 7 million 500 thousand square meters of cotton cloth and 5 million textile products.

At least 80% of the output is for export.

The factory is supported by direct investment from Korea.

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< p > in 2011, the Uzbekistan state owned assets committee and the Korea Textile Technology Group signed an agreement to sell the uncompleted residential buildings and business premises of Bardankul village in Tashkent area for 400 thousand US dollars, and the Korean textile technology group built factories on the basis of these assets.

Uzbeklegprom said that since the beginning of 90s, the textile industry in Uzbekistan has attracted $1 billion 800 million in investment and implemented 150 projects.

However, experts say cotton made in Uzbekistan is of low quality and can only be used for bedding and uniforms.

In the 2011-2015 years, Uzbeklegprom plans to carry out 106 textile projects with a value of US $1 billion 678 million, which will allow domestic processing of up to 70% of the domestic raw cotton, while the current processing capacity is only 40%.

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< p > China also joined in the textile industry in Uzbekistan, invested in 6 textile factories in Uzbekistan Jizzak industrial area, and Jizzak industrial zone is the third special area built by Uzbekistan.

The Chinese enterprises investing in textile mills are Nanyang magnolia, Henan sine, Pinmian Co., and HebeyAnFengDa group.

The annual production capacity of the 6 textile mills is 30 million square meters of cotton cloth, 13000 tons of knitted fabric and 15 million garments.

The total cost of the 6 textile mills is US $56 million, which will be operated by the end of 2015.

About 80% of the products produced by these new textile and garment factories may be used for export.

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< p > according to an order signed by the president of Uzbekistan in March 18th this year, the new Jizzak industrial area is set up in Jizzakh area of Uzbekistan.

The Jizzak industrial zone was established to create favorable conditions to attract domestic and foreign investment to produce the latest hi-tech industrial products, while effectively utilizing the resource potential of Jizzakh and the SIL river area.

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Textile enterprises built in Jizzak industrial zone will enjoy special tax and tariff preferences during the period of 3 to 7 years. < p >

No tariff is imposed on enterprises operating in industrial zones when importing raw materials, equipment and parts that are not produced in Uzbekistan.

Income tax, property tax and other taxes will not be paid.

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