TASHKENT, Uzbekistan, September 26. The German Teamdress company, focusing on the development and production of workwear and protective clothing, will build a $3.2 million-worth company for sewing workwear in Uzbekistan’s Fergana region, Trend reports.
The company's production facility is located in the small industrial zone of Uzbekistan's Ekoshakhar and is planned to be launched in October 2023, creating 300 jobs for the local workforce.
The products produced by the plant are said to be exported entirely to the European market. The export potential of the project is estimated at $25 million.
Over the past 6 years, the number of enterprises established in Uzbekistan with the participation of German capital has grown by almost 3 times, reaching 200. Of these, 17 joint ventures were launched from January through June 2023.
The total volume of German investments in Uzbekistan over the past two years amounted to almost 2 billion euros.
Moreover, a protocol aimed at improving the investment environment in Uzbekistan was signed during a session of the Foreign Investors Council in Uzbekistan’s Tashkent earlier this year. The document included proposals for enhancing the investment climate in Uzbekistan.