Issues of expanding investment activities of Chinese companies in the textile industry of Uzbekistan discussed
Tashkent, Uzbekistan (UzDaily.com) – On 23 January, at the Chinese Embassy in Tashkent, on the initiative of the Chinese side, a meeting was held between the leadership of the Uztextilprom Association and the Trade and Economic Advisor of the Chinese Embassy, Ms. Jing Yulong.
During the meeting, the parties discussed issues of bilateral cooperation, the results of joint activities in 2019, the current state of ongoing projects and prospects for expanding cooperation in 2020.
Ms. Yulong emphasized the achieved results of the development of the textile industry in Uzbekistan and Central Asia, there was also a significant increase in the export of Uzbek textile products to the Chinese market and the expansion of investment activities of Chinese companies in the country's textile industry.
Particular attention of the parties was directed to deepening cooperation with the Embassy of the PRC in the Republic of Uzbekistan in attracting grants and programs aimed at training and raising specialists in the textile industry, enhancing cooperation within the framework of the One Belt One Way program as a platform for interaction with international organizations, enterprises and financial institutes.
It is worth noting that currently in Uzbekistan there are more than 33 textile enterprises with the participation of Chinese investments. Such large textile corporations of the Republic of China as the Jinsheng Group, Nanyang M&F Industrial Co Ltd, Shanghai Marjan Industrial Co Ltd and others carry out their activities in the Republic of Uzbekistan.
Since 2016, with the participation of Chinese partners, 12 major investment projects have been implemented, including the production of cotton yarn, fabrics, knitted fabrics, finished textile products totaling more than US$250 million. Along with this, at the present time, together with the Chinese companies Jinsheng Group, Nanyang M&F Industrial Co Ltd, Shanghai Marjan Industrial Co Ltd and others, a number of projects are being implemented totaling more than US$130 million.
During 2018-2019 In the framework of training personnel for the textile industry, the Chinese side provided assistance in improving the skills of more than 20 representatives of the country's textile industry with visits to various cities of the PRC.
It is also noteworthy that Uzbekistan is one of the few countries that has established export of textile products in China. In 2019, the amount of textile exports (mainly cotton yarn) reached US$0.4 million.