12 million 500 thousand US dollars will be allocated for the construction of a modern enterprise on the site of an unused building of an old textile factory in Chumich makhalla. 600 thousand dollars of these funds are foreign direct investment. The company, created in cooperation with the Indian company Yamuna, will produce 7 million meters of denim and 1 million pieces of ready-made clothing per year.

– We decided to create a joint venture taking advantage of the opportunities and privileges provided for entrepreneurs, – says its founder Eshkuvvat Ashurov. – Aiming at the production of denim, we found a partner. The reason is that in Uzbekistan there are very few enterprises producing this fabric. And India ranks first in the world in denim production. Finally, we called for cooperation the Yamuna. Our tax breaks and opportunities, changes over the past two years have interested them. After launching the enterprise, the annual export volume will amount to 16 million dollars. This is a very good indicator. When the second stage will be involved in 2020, the production volume will reach 12 million linear meters of fabric. This will increase exports to 40 million USD.

The joint venture project has been considered, bilateral memorandum is signed. 325 jobs will be created in the first phase of the project, scheduled for 2019-2020. In the second stage, the number of jobs will exceed 800.

Modern equipment will be brought and installed at the joint venture. The first phase of the project will be launched in December this year.