BAKU, Azerbaijan, Mar. 18
By Klavdiya Romakayeva - Trend:
Negotiations are underway between the Uzbek and Malaysian sides on possible investment in joint textile projects in Uzbekistan, Trend reports referring to the National News Agency of Malaysia, Bernama.
Ambassador of Uzbekistan to Malaysia Ravshan Usmanov in an exclusive interview with Bernama said that potential Malaysian companies are discussing with the Uztekstilprom Association developing investment cooperation and implementing projects in the Fergana and Samarkand regions.
Commenting on bilateral investment cooperation with Malaysia, Usmanov said that as of 2020, 31 enterprises were registered in Uzbekistan, including 21 enterprises with 100 percent Malaysian capital, which operate in the oil and gas, textile, furniture, electrical, financial and tourism sectors.
"We invite business entities of the two countries to be more active for the further development of mutually beneficial cooperation in trade, economic and investment spheres, especially in the field of electrical engineering, pharmaceuticals, agriculture, chemistry and information and communication technologies," the ambassador said.
The total annual export of textile goods from Uzbekistan to 68 countries in 2020 amounted to $1.9 billion, with 51 percent of exports being finished products.
At the same time, foreign investments were attracted to create new production facilities in the amount of $3.2 billion. According to the roadmap for the support and accelerated development of the textile industry in Uzbekistan, it is planned to increase exports from $1.9 billion in 2020 to $7.1 billion in 2025
Moreover, 16,800 new jobs were created in 2020, with the establishment of new industries and 1,970 enterprises of the textile industry are currently registered in Uzbekistan.
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