At a government meeting on Wednesday, the President Shavkat Mirziyoyev announced the creation of the Light Industry Development Agency, which will be in charge of textile, leather and silk industries.
According to him, in the backdrop of alterations in the rules of global trade and disruptions in logistics, special approaches are required for the development of the textile industry.
The agency will be headed by First Deputy Minister of Investments, Industry and Trade Nozimjon Kholmurodov. A council of experienced business leaders will be set up under the agency.
The entity will receive its own fund, through which textile enterprises will receive state support and preferential working capital. $200 million will be contributed to the fund.
The agency, together with the council, will be tasked with conducting a dialogue with businesses, developing solutions for cost, manufacturing and export, doubling the export of finished products through the "processing in the customs territory" regime, as well as strengthening cooperation and improving the health of enterprises operating with low capacity utilization.
Shavkat Mirziyoyev set the goal of preparing, together with international consultants, a textile industry development program 2030, as well as making proposals for the development of the leather, silk and carpet industries.
