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Home / Business and Innovation / Light Industry This Year Absorbs Almost $232Mln

Light Industry This Year Absorbs Almost $232Mln

By the beginning of 2016, it is planned to complete 31 investment projects worth more than $231.92 million. Their successful implementation provides the creation of more than 4.2 thousand new jobs.

An important reference point for the industry in the near future becomes the Program of measures to ensure structural reforms, modernization and diversification of production in for 2015-2019. It includes measures to improve the structure of the textile industry at the expense of production on the basis of deep processing of local raw materials that is in demand in the domestic and international market of competitive finished products and semi-finished products, including colored yarn, fabrics, knitwear, garments, footwear and leather goods.

In accordance with it, it is planed to implement in cooperation with leading foreign partners 58 projects to create new, and modernization of existing facilities, as well as 21 projects with involvement of foreign investment. Those include the organization of textile complexes on the basis of Ellikkala and Kungrad cotton mills, textile complexes in Gijduvon district, on the basis of unfinished construction of the facility in Djondor and Romitan districts of Bukhara region, further development of the textile industry in FE Indorama Kokand Textile.

The main export markets for the Uzbek textile products are the CIS, Russia, and European Union countries, South Korea. Good potential for export expansion in Arab countries. In recent years, domestic enterprises began to explore nontraditional for them markets of South America, Canada and the United States. Within the years after independence, the industry attracted more than $2.1 billion investments.

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