Uzbek textile industry sums up 2018 results
26/12/2018 19:03
Uzbek textile industry sums up 2018 results
26/12/2018 19:03
Tashkent, Uzbekistan (UzDaily.com) -- On 26 December 2018, the International Press Club held an open conversation with the leadership of the Uztekstilprom Association, during which the industry development strategy for 2019-2021 was presented.
The main reason for the meeting was the discussion of the Strategy for the development of the textile industry, developed in accordance with the Decree of the President of the Republic of Uzbekistan “On measures to accelerate the development of the textile and garment and knitwear industry”.
Speaking about the textile and garment and knitwear industry, the leadership of the Uztextileprom Association noted that there are more than 150 textile and garment and knitwear enterprises operating in Uzbekistan today, of which 50 with 100% foreign capital. The bulk of foreign investment from Turkey, Korea, China, Singapore, Switzerland, Germany, the UK, and Russia has been used. Textile and garment-knitting enterprises account for 4.6% of the country’s GDP.
In 2019–2021, the industry will be implementing a strategy for the development of the textile industry. During the event, its presentation took place.
The Strategy was developed by the Cabinet of Ministers of the Republic of Uzbekistan, the Ministry of Economy of the Republic of Uzbekistan, the International Textile Manufacturers Federation (Switzerland), KOFOTI (Korea), KITECH (Korea), KOTRA (Korea), the Ministry of Textiles (India), CITI (India), IFC (IFC ), Gerzi (Switzerland), Rieter (Switzerland), Indorama Corp. (Singapore), Jinsheng Group (PRC).
The main objectives of the development strategy of the textile industry are:
In the medium term (until 2021) the growth in volumes will be:
In addition, it is planned to create a base of innovative and design developments.
As a result of the implementation of the Strategy, Uzbekistan intends to change the structure of textile production and increase exports to US$7 billion by 2025. Thereby, having begun a new stage of transformation of the republic into a leading producer of textiles.
So in the long term, the growth of volumes will be:
As part of the development of international cooperation, it is planned to establish regional representative offices of the Uztekstilprom Association covering the regions of the CIS countries (Russia, Belarus, the Republic of the Transcaucasus), the EU and South-East Asia.
In addition, it was noted at the event that the entry into force of the new Tax Concept will reduce the tax burden on the textile industry. “We are almost halving the tax burden on labor, before it exceeded 40%. We had a very heavy tax on turnover, as well as pension, road, school funds - it all goes away, ”said the representative of Uztekstilprom.
At the event, the parties discussed issues in the field of textile industry, existing problems in the activities of enterprises in the industry, and also considered proposals for the development of the textile industry in Uzbekistan.
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