Uzbekistan's Andijan region, US firm sign textile cooperation pact

The goals are to further develop the textile sector in the region, attract foreign direct investment, modernise and expand production capacity.

Under the agreement, modern textile enterprises would be set up, production processes would be modernised, export potential enhanced by introducing local products to international markets, thousands of jobs would be created and training and retraining programmes for qualified specialists would be organised, according to domestic media reports.

The memorandum is also expected to boost Uzbekistan’s competitiveness in the global textile market.

Over 300 firms with American capital are already operating in the country; 167 such enterprises have cent per cent US ownership.

ALCHEMPro News Desk (DS)