Volumes of cotton processing in Uzbekistan will increase by 60% by 2020

Tashkent. September 5. Silkroadnews - Implementation of the concept on development the light industry in Uzbekistan will allow in 2020 to increase the volume of domestic processing of cotton almost by 60%, reported KazTAG.
According to Chief of State Joint-Stock Company (SJC) "Uzbeklegprom" Dilbar Makhmudova, "Uzbeklegprom" in 2015-2020 plans to spend about $1 billion increase the domestic processing of cotton fiber.
"The program provides an increase in domestic processing of cotton fiber with 44% in the current year to 70% in 2020 and a corresponding increase in textile exports - from $800 million to $1.5 billion", - said D. Makhmudova.
It is assumed that funding for the program will be implemented through direct investment by domestic enterprises and foreign investors, as well as loans from Uzbek banks.
Uzbekistan produces about 3.5 million tons of raw cotton and 1-1.2 million tons of cotton fiber. However, about 60% of produced cotton is exported.
Production of cotton in Uzbekistan in 2013 increased by 1.4% compared with 2012 and amounted to 1.087 million tonnes.