Permanent Mission of the Republic of Uzbekistan to the United Nations

The Uzbek-Turkish Cottontex Joint-Stock Company in Bagat District in Khorezm Province produces 2,000 tons of thread per year.

With a goal of modernization the production, output of competitive goods which meet the world standards the modern spinning looms were delivered and established at the enterprise. During 2008 the bulk of thread was exported, according to the Uzbekistan National News Agency.

“For further developing the enterprise in 2009-2010 we are going to attract investments worth one million US dollars and extend the production volume twofold,” Ruzimbay Abdullaev, the director of the company, said. “As a result of this, we will have an opportunity to supply goods worth 4 billion Uzbek soums per year to domestic and foreign markets, and at the same time, to create 50 jobs.”

Based on the Resolution of President of Uzbekistan of April 21, 2006 on financially recovering enterprises of textile industry and improving the mechanism of selling cotton fibers, the company effectively uses the tax benefits. In particular, 40 million Uzbek soums, which have been saved last year, will be directed to bettering the conditions of work of about 100 workers and employees, raising their salaries.

Lola Bekmuratova for the Information Agency “Jahon” in English