Currently, Uzbekistan pays great attention to development of textile machinery. In order to create modern production capacities of textile equipment, Maschinenfabrik Rieter AG (Switzerland) implements project in this direction. The investment in the first stage exceeds US$3.8 million.

In the first stage, the enterprise, Rieter Uzbekistan, will produce line, card and spinning equipment. The enterprise will be commissioned in the second quarter of 2012.

At the same time, Uzbekistan is working with Korean TMC and Germany’s Terrot on organization of production of equipment of hosiery products and circular fabric machines. Within the project, it is planned to use over US$5.5 million of foreign investments.

Uzbekyengilsanoat said its primary tasks are to increase innovative activity, develop scientific potentials, as well as re-equipment of existing and creation of high-technologic capacities.

The company will focus on increasing the volume of exports and internal processing of cotton-fiber, and diversify export of textile goods.

Uzbekyengilsanoat said that over 150 enterprises in cooperation with foreign companies from South Korea, India, Singapore, Germany, Switzerland, Italy, Japan and other states were created during Uzbekistan’s independence years. In 2008-2011, Uzbekistan attracted over US$450 million of investments.