Turkmenistan intensifies textile manufacturing
Turkmenistan, Ashgabat, May 23 / Trend H.Hasanov /
In the first four months of 2013, the growth rate of production on the account of the Ministry of Textile Industry was at 105.4 percent in Turkmenistan, according to the Turkmen government.
"During this period, the growth rate of sales amounted to 102.6 percent. Profitability of production was at 13.4 percent," the report said.
During the years of independence of Turkmenistan, over $1.650 billion has been invested in the reconstruction and modernization of existing textile enterprises, of which the share of foreign investments amounted to $300 million, or 18 percent.
The sowing of raw cotton in Turkmenistan takes place on a total area of 550,000 hectares. Some 1,235 million tons of cotton was collected last year, or 12.6 percent more than in 2011.
Much of the raw material goes for internal processing and is designated for the development of textile industry.