Tashkent, Uzbekistan (UzDaily.com) - In order to support the initiative of the President of Uzbekistan for the implementation of cotton-textile clusters and the development of agriculture, Posco International Textile has expressed its readiness to organize a cotton-textile cluster. This was discussed during a meeting of the management of POSCO International Textile with the chairman of the Uztekstilprom Association Ilkhom Khaydarov.

Posco International Textile is one of the largest textile companies and Korean investors in Uzbekistan, where more than 4 thousand people are employed. At the same time, the company occupies a leading position in the production and export of high-quality yarns and fabrics.

By 2022, the company will begin work on the implementation of the project. In this connection, an appeal was sent to the Uztekstilprom Association for assistance in the implementation of the cluster. The Association supported the initiative of Posco International Textile and it was noted that the parties will make efforts for the successful implementation of the project.

The President of Uzbekistan signed a decree, which, starting from the harvest of 2022, introduces the procedure for financing the cultivation of raw cotton and cotton picking at the expense of the Fund for State Support of Agriculture. In order to ensure uninterrupted financing of activities related to the cultivation of agricultural products, the Deputy Prime Minister of the Minister of Finance must ensure the allocation of gratuitous financial assistance to the Fund in 2022 from the republican budget in the amount of 5 trillion soums, according to reasonable calculations of the Fund - a budget loan of up to 7.5 trillion soums.

Earlier, on 27 October, a video conference on the development of the cluster system in agriculture was held under the chairmanship of the President. The head of state emphasized the need to expand the capabilities of clusters to increase productivity in agriculture and agro-industry. Many initiatives have been put forward to strengthen legal guarantees and financing of cluster activities, export support, infrastructure and technical support.