An important meeting with a delegation of Italian Cotonella took place at the Ministry of Investments, Industry and Trade of Uzbekistan. The meeting was aimed at presenting to the Italian side the advantages of operating in Uzbekistan, as well as creating a favourable investment climate, the press office of the Ministry of Investments, Industry and Trade of Uzbekistan reported to CentralAsia.news.
The top managers of Cotonella was pleasantly surprised by the progress made in Uzbekistan’s textile industry in recent years. The quality of textile products has improved, and Uzbekistan’s exports to European markets have increased significantly. These factors prompted the company to launch its enterprise in Kashkadarya Region of Uzbekistan.
Cotonella is planning to gain a foothold in the Uzbek market for a long term. After the launch, the enterprise will produce about 2 million ready-made knitwear products per year and create up to 80 jobs. The company also plans to invest $5 million to increase production to 8 million units per year, which will allow creating up to 500 new jobs.
The company’s development concept envisages introducing modern technologies, supporting sustainable long-term development, ensuring competitive prices, improving design, expanding a product range and promoting professional development of employees.
It was noted that the Ministry of Investments of the Republic would comprehensively support the company in its effective operation in Uzbekistan. This includes assistance in obtaining registration and permits, creating the necessary infrastructure and boosting the textile industry in the region.
