Uzbekistan has fully transitioned to processing its own cotton fiber and has begun importing raw cotton for the production of high value-added finished products.
This change came about as a result of decisive steps taken by Uzbekistan in recent years to significantly improve the investment and business climate, creating favorable conditions for both foreign and domestic investors. This fully applies to the textile and garment industry, according to a statement from the press service of the President of Uzbekistan.
"As a result of establishing a stable legislative framework, improving the investment environment, and introducing new technologies, the volume of cotton fiber processing has increased from 40% in 2017 to 100%. At the same time, work has begun on importing raw cotton and producing finished products with high added value," President Shavkat Mirziyoyev stated.
Thanks to the opportunities created in this sector, the volume of textile production has increased fivefold, and its export has quadrupled.
"Most importantly, a significant portion - 70% - of the industry's exports used to consist of raw materials, but today 60% of exported goods are finished products," the President of Uzbekistan emphasized.
CentralasianLIGHT.org
September 15, 2024