Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan is establishing an Agency for the Development of Light Industry, President Shavkat Mirziyoyev announced during a videoconference focused on leveraging the export potential and reserves of the textile sector.

It was noted that, amid rapid changes in global trade rules and logistical disruptions, a special approach is needed for the development of the textile sector. The new Agency will oversee the textile, leather, and silk industries.

The agency will be headed by Nozimjon Kholmuradov, First Deputy Minister of Investments, Industry, and Trade.

A council of experienced entrepreneurs will be created under the Agency, along with a special fund to provide state support and accessible working capital to light industry enterprises.

It was underlined that US$200 million has been allocated to establish the fund.

The new Agency has been tasked, in cooperation with the council and entrepreneurs, to maintain ongoing dialogue, develop solutions to reduce production costs, and increase production and exports.

Through the application of the “processing in the customs territory” regime, exports of finished products are planned to be doubled. The Agency is also tasked with strengthening cooperation and implementing measures to rehabilitate enterprises operating at low capacity.

In collaboration with international consultants, a development program for the textile industry through 2030 will be prepared, along with proposals for the development of the leather, silk, and carpet industries.