Uzbekistan aims to achieve $7 billion in textile exports by 2028.

According to the decree, the volume of textile product exports is projected to reach $4 billion by 2025, $5 billion by 2026, and $7 billion by 2027. Additionally, the share of finished product exports to the US and European markets is expected to amount to $500 million.

As per the data from the Statistics Agency, the total export of textile products for January to December 2024 amounted to $2.87 billion, representing 10.6% of the overall volume, which is a decrease of 6.7% compared to the same period in 2023.

It is noted that the share of finished clothing and knitwear products in the total export volume will increase to 70%. This will be achieved through the implementation of advanced technologies, modern design solutions, and collaboration with international brands.

To support the development of the industry, Uzbekistan plans to attract $5 billion in foreign investments and loans aimed at deep processing of yarn. Financing will be sourced from export duties on yarn and fabrics, which will be allocated to the Industry Support Fund.

The Fund's resources, amounting to $15 million in 2025, and from 2026 onwards, at least 80% of revenues, along with $15 million in subsidies allocated for the purchase of production equipment, will be directed to commercial banks for financing equipment purchases. These loans will be issued for up to 7 years in foreign currency at an interest rate of 4% per annum (including a bank margin of 2%).

The Chamber of Commerce and Industry and the Association "Uztextileprom" will be able to participate in projects as founders, contributing up to 25% of the equity capital of special project companies (SPV). Their share must be repaid within five years following the sale.

Furthermore, a positive conclusion from the State Unitary Enterprise "Center for Comprehensive Project and Import Contract Expertise" will be required for the successful implementation of projects.

The "Trade Development Company" will cover the expenses of enterprises related to obtaining international certifications, such as GOTS, OEKO-TEX, BCI, and others, using resources from the Trade Facilitation Fund.

To promote domestic products on international marketplaces, the Chamber of Commerce and Industry has been tasked with implementing the Made in Uzbekistan program. As part of this program, support will be provided for training specialists from industry enterprises in working with marketplaces, as well as in creating and promoting national brands. $2 million from the Trade Facilitation Fund has been allocated for these purposes.

A Special Textile Industrial Zone will be established in the Namangan region, serving as a site for the production of deeply processed clothing and home textile products. Special tax, customs, and currency conditions will apply for residents of the zone.

The decree also includes the establishment of a factoring organization under the "Trade Development Company" with a charter capital of 10 billion sums. The company will receive 100 million from the Reconstruction and Development Fund for a period of five years at an interest rate of 4% per annum. These funds will be directed towards providing factoring and leasing services to textile industry enterprises.