Home / Knowledge / News / Textiles / Uzbekistan removes incentives on cotton purchase
Uzbekistan removes incentives on cotton purchase
25
Mar '11
Beginning from January 1, 2011, the government of Uzbekistan has withdrawn exports rebates and incentives provided on cotton purchases.

This has upset the plans of major overseas investors in the textile industry who have invested in Uzbekistan, on the back of these incentives.

The government has removed 20 percent export tax rebate and the 15 percent incentive on cotton purchasing.

Shandong Yuncheng Hengshi Textile Company, a Chinese firm had once planned to purchase a cotton textile mill in Uzbekistan and more than US $1.3 million has been invested.

According to Shandong, Uzbekistan cotton was even better than Xinjiang cotton as the weather was dry and labour cost was also low.

The export tax rebate policy and incentives on purchasing cotton, made the investment climate more attractive for Shandong.

However, the sudden withdrawal of the rebate and incentive has compelled Shandong to revisit their plans and are now waiting and watching the situation.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 27th Feb 2017

Surat to get a mega textile park, centre of excellence

The textiles ministry is positively working on the proposals for a...

Apparel/Garments | On 27th Feb 2017

Myanmar sets up new committee to revise minimum wage

The Government of Myanmar has set up a new committee, replacing an...

Courtesy: Invista

Textiles | On 27th Feb 2017

Invista explores alternatives for apparel & textile trade

Invista, one of the world's largest integrated producers of chemical...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search