Uzbekistan’s textile and apparel industry has grown into a major pillar of the country’s economy, one that presents major opportunities for Korean manufacturers and retailers, Uzbek officials said at the Korea-Uzbekistan Business Forum.
Ruhullo Zikrilayev, deputy director of the Agency for the Development of Light Industry of Uzbekistan, said the sector has become “one of the key pillars” of the national economy.
More than 10,000 enterprises operate in Uzbekistan’s light industry sector, with textile and apparel products exported to over 75 countries.
“In the past, our textile industry primarily focused on exporting raw cotton,” Zikrilayev said. “Today, the situation has changed dramatically.”
Once known primarily as a cotton exporter, Uzbekistan has moved rapidly up the value chain, with finished goods now accounting for around 65 percent of textile exports.
Zikrilayev said the government offers more than 15 support programs for textile and garment companies, including preferential financing, assistance for foreign specialists, support for overseas showrooms and warehouses, exhibition cost coverage, enterprise resource planning implementation, and international standards certification.
“Uzbekistan offers highly competitive production costs, strategic access to major markets and a favorable investment climate,” he said.
While Uzbekistan has emerged as one of Central Asia’s fastest-growing economies, attracting large-scale foreign investment will require continued improvements in logistics, regulatory predictability and workforce development, he said.
He cited Youngone Corporation of Korea as a successful example of Korean investment in Uzbekistan’s textile industry. The company operates major production facilities in Samarkand and Tashkent and manufactures apparel for global brands.
“We hope to work closely with Korean retailers, manufacturers and investors to create globally competitive brands,” Zikrilayev said.
