The Ministry of Investment, Industry and Trade of Uzbekistan (MIIT) hosted a meeting with the leadership of the Italian company Cotonella.

At the meeting, the advantages of working in Uzbekistan and the practical aspects of the investment climate created in the country were presented.

The Italian side emphasized the progress made in recent years in the textile industry of Uzbekistan, which made it possible to significantly raise the quality of products and the volume of their exports to European markets. In this context, the company’s leadership decided to open a foreign company Cotonella Uzbekistan in Kashkadarya region of the country.

The Italian side presented plans for a long-term presence in Uzbekistan market. So, at the first stage after the company’s launch, it is planned to produce up to 2 million ready-made knitwear per year, providing up to 80 people with permanent work. Further, the company intends to allocate $5 million to increase the production of high-value-added products to 8 million units annually. Up to 500 new permanent jobs will be created.

The presented concept, along with the introduction of modern technologies, includes ensuring sustainable long-term development of the company, price competitiveness, continuous improvement of design and expansion of the product line, and improving the professional skills of the company’s employees.

Following the meeting, readiness was expressed to provide comprehensive assistance for the successful work of Cotonella in Uzbekistan.

UzA