Akcha Holding from Turkey announced its readiness to invest in a textile enterprise in the Namangan region of Uzbekistan. This is the result of the meeting between the head of the Ministry of Investments and Foreign Trade of Uzbekistan, Jamshid Khodjaev, and a member of the board of directors of the holding, Ahmet Bilge Goksan.
It is reported that the Turkish delegation highly appreciated the conditions created in Uzbekistan for comfortable activities of investors and offered to create an enterprise for $250 million that will produce a wide range of textile products. The products are planned to be supplied to the markets of the USA, Europe, Brazil, Canada and other countries. With the full implementation of the project, 15 thousand new jobs will be created.
In recent years, the authorities of Uzbekistan have been striving to earn income not from the sale of raw cotton, but from the export of value-added products made from it. A cluster system has been introduced in cotton cultivation, about 350 large factories for the production of textiles have been put into operation. Over the past three years, more than $2 billion has been allocated to support the industry, and the clusters themselves have invested more than $636 million in private investment.