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New textile factory to come up in Uzbekistan by 2018 end
16
Oct '17
New textile factory to come up in Uzbekistan by 2018 end
A modern $92-million textile unit will be built in Uzbekistan by the Namangan Sharbati joint venture, the National Bank for Foreign Economic Activity and Ozbekyengilsanoat joint stock company by late 2018. The factory will annually produce 10,000 tonnes each of polyester fibre and yarn, 20 million meters of mixed fabrics, and 7,000 tonnes of blended linen.

The factory will be exempt from paying corporate income tax, value added tax and mandatory contributions to the Republican Road Fund under the Uzbek finance ministry till January 1, 2022, Sputnik Uzbekistan reported recently.

It will also be exempt from customs payments for imported equipment, components, chemicals not manufactured in the country.

Around 132 investment projects worth $2.2 billion are planned in the Uzbek textile industry till late 2019, the report added. (DS)

Fibre2Fashion News Desk – India


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