BAKU, Azerbaijan, April 5. Investors from China plan to launch a leather production enterprise worth $5 million in Uzbekistan, Trend reports via the statement of the Uzcharmsanoat association.
The matter was discussed at a recent meeting between the leadership of the association with representatives of a leather processing enterprise from the Chinese Fujian province.
According to the statement, the meeting was held within the framework of the 14th UzCharmExpo-ShoesStar EurAsia-2023 International Exhibition.
During the talks, the sides discussed Uzbekistan’s production capacities, while the Chinese side emphasized the production potential of the Andijan and Namangan regions of Uzbekistan.
Furthermore, over the past few years, Uzbekistan demonstrates steady progress in the field of the leather industry.
Back in March 2023, Fakhriddin Boboev, Chairman of the Uzcharmsanoat association, told Trend that Uzbekistan 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.
According to Boboev, to realize the abovementioned task, Uzcharmsanoat considers implementing some 555 investment projects worth $1 billion from 2022 through 2026, while by the end of 2022, the association implemented 120 projects worth $218 million.