100 million soums in subsidies earmarked for Uzbek textile enterprises

Subsidies will be earmarked for those enterprises that have deployed international sanitary regulations to production.

On December 18, President of Uzbekistan Shavkat Mirziyoyev led a meeting via videoconference in Tashkent to discuss further measures to develop the service sector and expand production in the regions. The key decisions announced at the meeting included the promise to allocate up to 100 million soums in subsidies to textile enterprises that would deploy international sanitary regulations to production, the press office of the President of the Republic reported to CentralAsia.news.

Uzbekistan’s textile industry is expected to make $700 million in added value in the year ahead. The authorities intend to support textile enterprises and earmark $200 million as a resource for them to implement new value-added projects.

The President of Uzbekistan said Uzbekistan has a huge potential to boost production and increase exports. The possibilities for implementing several projects aimed at starting fabric production and opening dyeing factories in Yukorichirchik Region are under consideration. The total cost of these projects is $350 million.

It is also planned to launch the projects for the production of furniture fabrics and synthetic fibre curtains in Andijan and Samarkand. Furthermore, it is planned to launch synthetic fibre production in Karakalpakstan. All these measures are aimed at developing the textile industry and improving its competitiveness in the international market.

20 12 2023, 07:44
Photo source: president.uz

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