Free Economic Zone in Uzbekistan expands production

Finance Materials 12 March 2020 17:25 (UTC +04:00)
Free Economic Zone in Uzbekistan expands production

BAKU, Azerbaijan, Mar. 12

By Ilkin Seyfaddini – Trend:

It is planned to launch four more enterprises worth more than $26 million and create 488 jobs in the territory of the Khazorasp free economic zone (FEZ) in Uzbekistan in 2020, Trend reports citing Uzbekistan National News Agency

This economic zone has been set up in accordance with decree of Uzbekistan’s President Shavkat Mirziyoev from January 12, 2017.

"Currently, 19 projects amounting to more than $306 million, are being implemented in Khazorasp FEZ, and out of this sum, direct foreign investments comprise more than $266 million. The projects envisage production of sandwich panels, detergents, car radiators, construction materials, knitwear, medical gloves, footwear and other goods. Over 1,100 people are provided with work within the projects," the report says.

One of the flagships of the free economic zone is Develop Textile, a foreign enterprise operating as limited liability company. It was put into operation in January 2020, within implementation of a project worth $13 million. Modern equipment from Germany, Turkey and China was installed at the company's facilities. After commissioning, Develop Textile has provided jobs to 760 people.

The enterprise's production capacity is 4,000 tons of finished dyed knitted textile and 14 million units of various sewing products per year. It is also planned to export products to Germany, France and other European countries in the amount of $12 million a year.


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