American company Imperial Jewelry Inc. invests $20 million in the creation of jewelry production in Tashkent, Kun.uz correspondent reports citing a government decree.

To implement the project, the Americans have already created a foreign enterprise in Uzbekistan in the form of a limited liability company Imperial Jewelry. It will be transferred to the part of the property complex of the state enterprise “1-Zargarlik Korkhonasi” and the premises of the state enterprise “2-Zargarlik Korkhonasi” at “zero” purchase price.

Investors committed themselves to invest $20 million in the first three years and reach the design capacity of up to 10 tons of products per year by the end of this period. In addition, they plan to create at least 100 new jobs.

It is worth recalling that last year the Uzbek authorities announced large-scale plans for the production and export of jewelry. For example, it is planned that by 2020 the republic will bring the annual volume of jewelry production to more than $40 million.

In addition, the output of silver products is planned to be increased in 2020 to $760.5 thousand and of gold - to 39.6 million. Particular emphasis will be placed on promoting products abroad. In 2020, it is expected to export jewelry worth almost $14 million.