Uzbeklegprom signs deal with Chinese textile companies

06 Jul '13

2 min read

Uzbeklegprom, the State Joint Stock Company of Uzbekistan, has signed agreements with Chinese textile companies to set up two new projects in the Uzbek-Chinese industrial park in Jizzak.

Uzbeklegprom signed an agreement with Nanyang Red Cotton Angel Textile to set up a textile equipment service centre in Jizzak Special Industrial Zone, Trend.az reported quoting the Ministry of Foreign Economic Relations, Investment and Trade.

The State Joint Stock Company signed another agreement with Nanyang Mulanhua Textile for creating a textile complex for production of dyed yarn and garments.

The two deals were among the 21 agreements signed for investment of more than US$ 100 million during the Uzbek-Chinese Investment Forum that gives a unique opportunity for Chinese companies to invest in Uzbekistan.

The special industrial zone in Uzbekistan’s central region of Jizzakh was created by a presidential decree in March this year. The zone can operate for 30 years, with a possibility of extension, according to the decree.

The modern high-tech industrial units to be set up in the zone would enjoy a special tax clause and customs privileges.

The Uzbek-Chinese Investment Forum was organized by Uzbekistan Government in collaboration with the Chinese Ministry of Commerce. The Forum was attended by representatives of about 300 Chinese companies.

Earlier in April this year, Uzbek-Chinese Investment Forum was held in four Chinese cities—Beijing, Hangzhou, Suzhou and Shenyang—which resulted in the signing of 54 agreements on joint implementation of high-tech investment projects in Jizzak, including those related to production of textiles.

Fibre2fashion News Desk - India

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