105 investment projects totaling 123 billion soums have been implemented in Ferghana region since the dawn of the year.

In spearheading the cardinal reforms on the modernization and diversification of economy major significance is attached to the active establishment of manufactures with domestic and foreign investment, and consolidating the export capacities of enterprises. The progress achieved in Ferghana region has been particularly noticeable in this context.

“Favorable investment climate in our country has been promoting the establishment of manufactures with the involvement of foreign investors, and, most importantly, the increase of people’s welfare,” says the head of the Ferghana Regional Department for Foreign Economic Relations, Investments and Trade Rustam Sulaymonov. “154.2 billion soums was disbursed for the implementation of industrial projects in the first nine months of the current year, 11 joint ventures were established by means of $16 million of direct investments. The bulk of investments are channeled to light, electrical and chemical industries, as well as the construction materials industry”.

Moreover, large enterprises carry out another 18 investment projects totaling $296.6 million. A recently commissioned Uzbek-Thai joint venture Fergana Oseana Textile, with over 15 billion soums of investments, ranks among them. Up-to-date equipment for processing and production of cotton yarn worth 6 million euros was delivered and installed as part of cooperation agreement with a Thai company.

High quality yarn manufactured at the enterprise is projected to be exported to European nations, Russia and China.