Shavkat Mirziyoyev signed a decree on January 16 aimed at developing processing chains in the textile and clothing-knit industries. The document has been published on the Lex.uz database.
This year, the export of textiles and knitwear is expected to reach $4 billion. The target for 2026 is set at $5 billion, and for 2027, it is $7 billion, with 70% of the total volume intended to consist of finished products. A minimum of $500 million is planned to be generated from exports to Europe and the USA.
To achieve this, the implementation of advanced technologies and design developments will be expanded, along with efforts to attract international brands. Over the next three years, the goal is to attract $5 billion in investments for yarn processing.
Duties on the export of yarn and fabric will be fully transferred to the Industry Support Fund. This fund will provide these funds to commercial banks, which will, in turn, allocate foreign currency loans to entrepreneurs for purchasing equipment for fabric, textile, and finished product manufacturing.
Loans for financing advance payments for equipment (15% of its cost) will be granted for a period of up to 7 years at an annual interest rate of 4%. This year, $15 million will be allocated for these purposes, and from next year, no less than 80% of the revenues from duties will be directed to this initiative.
Alongside lending, funds may be utilized by the Chamber of Commerce and Industry or the "Uztextiles" association for equity financing. The maximum share size will be 25%, and the company must purchase it at appraised value over a period of 5 years.
The Chamber of Commerce will also launch the Made in Uzbekistan program to promote local textiles and brands on global marketplaces, with a budget of $2 million. Employees of industry enterprises will be trained in working with platforms, placing products on them, and creating and developing brands.
Previously, Spot reported that Global Textile will build a textile factory and logistics center in Kazakhstan for $40 million.