BAKU, Azerbaijan, March 7. Uzbekistan's Uzcharmsanoat plans to increase the volume of leather and footwear production up to 18.6 trillion soums ($1.6 billion) by 2026 – an increase of 3.2 times, compared to the figures for 2022, Fakhriddin Boboev, Chairman of the Uzcharmsanoat association, told Trend.
According to Boboev, to realize the abovementioned task, Uzcharmsanoat considers implementing some 555 investment projects worth $1 billion from 2022 through 2026. By the end of 2022, the association implemented 120 projects worth $218 million.
He added that the Uzbek companies such as Top Quality Brand LLC and Leather Art LLC will realize some investment projects, which will boost output capacities in the industry.
"As a result of the project worth $23.4 million implemented by Top Quality Brand LLC to organize the production of finished leather, shoes, and leather goods, some 20 million square meters of finished leather, 500,000 pairs of shoes, 150,000 leather goods will be produced", he noted.
As for Leather Art LLC, Boboev emphasized, the company’s investment project will also play an important role in the leather and footwear industry.
“The project of Leather Art LLC worth $12 million will make it possible to manufacture about 80 million square meters of finished leather, 250,000 pairs of shoes, as a result, 160 new workplaces will also be created,” he added.
Among the major projects in the industry, Boboev emphasized project for the processing of leather and the production of finished leather by Bukhoro Agrocluster LLC ($11 million), as well as the processing of wool and the manufactured of finished products by Navsilin LLC ($7 million).
Boboev also added that in 2023, Uzbekistan considers implementing 175 investment projects for the creation of new enterprises this year and modernizing existing capacities, by attracting $420 million of direct investments.
"As a result of the implementation of the program for this year, an additional 230 million square decimeters of leather, 30.4 million pairs of shoes, 813,000 units of leather goods, 30 square meters of artificial leather and accessories will be produced in the country, 4,500 tons of wool, as well as import-substituting products, such as glue, will be produced in Uzbekistan," he added.