Textile clusters to receive a loan in the amount of 3 trillion soums for working capital
Also, their loan debt will be extended by 3 trillion soums for a year.
Cotton-textile clusters will receive a loan in the amount of 3 trillion soums for working capital. This was stated on August 18 by Shavkat Mirziyoyev during an open dialogue with entrepreneurs.
According to the head of state, the transition to the cluster system in the shortest possible time led to significant changes in agriculture. Thus, in six years, the yield of raw cotton per hectare has increased from 26 to 34 centners. In particular, in Andijan, Bukhara, Namangan, Samarkand, Kashkadarya, Khorezm and Tashkent regions, the yield reaches 40 centners.
Also, cotton processing increased by 2.5 times, reaching 100%, yarn production - by 2.2 times, and finished products - by 5 times.
In 2022, the export of textile products amounted to $3.2 billion. Next year, it is planned to increase it by one and a half times and bring it to $5 billion. At the moment, the clusters provide 600,000 people with jobs.
In addition, the President spoke about the losses incurred by the clusters for 6 trillion soums, associated with a large difference between the cost of cotton in the world and domestic markets. According to Gazeta.uz, local clusters bought cotton at twice the world price. In this regard, it was decided to extend the loan debt by 3 trillion soums for a year and a half.
Cotton-textile clusters for working capital will receive a loan for 3 trillion soums, calculated for a year and a half.
In addition, the state will cover 50% of the transport costs for the import of cotton and artificial fibers. At the same time, raw materials, paints and varnishes and chemicals, fittings, cooling systems and accessories will be exempt from customs duty for a period of three years.
Recommended
List of streets and intersections being repaired in Tashkent published
SOCIETY | 19:12 / 16.05.2024
Uzbekistan's flag flies high on Oceania's tallest volcano
SOCIETY | 17:54 / 15.05.2024
New tariffs to be introduced in Tashkent public transport
SOCIETY | 14:55 / 05.05.2023
Onix and Tracker cars withdrawn from sale
BUSINESS | 10:20 / 05.05.2023
Latest news
-
Uzbekistan imports over half a million mobile phones in just two months
SOCIETY | 19:37 / 03.04.2025
-
The story of a student who transformed a container into a learning center in Fergana’s Vodil
SOCIETY | 17:10 / 03.04.2025
-
Oman Air granted permission for regular flights between Muscat and Tashkent
SOCIETY | 16:50 / 03.04.2025
-
Shavkat Mirziyoyev and EBRD President discuss expansion of bilateral investments and projects
POLITICS | 16:33 / 03.04.2025
Related News

15:56 / 03.04.2025
President Mirziyoyev meets EU leaders to discuss strengthening economic cooperation

15:35 / 29.03.2025
Mirziyoyev and Tokayev hold informal talks at Medeu ski complex

15:47 / 28.03.2025
Shavkat Mirziyoyev to visit Almaty on March 29 for a working visit

11:42 / 28.03.2025