Manufacturing reforms introduced by Uzbek help kick start cotton industry

YarnsandFibers News Bureau 2014-06-20 16:15:00 – Uzbekistan

A favorable investment climate and other necessary condition for energetic and successful business of foreign entrepreneurs are created in Uzbekistan. Global Komsco Daewoo (GKD), a South Korean company established entirely with South Korean capital in Uzbekistan which is producing cotton cellulose in Tashkent region, has been thriving under reforms instituted by Uzbek President Islam Karimov to bolster the manufacturing industry and modernize enterprises.

According to Kim Won Suk, the director of the production department at the company, this year it would be producing more than 8,000 tons of goods up from 5,500 tons in 2013. The Uzbek cotton that enjoys a great demand in the world market helps secure the high quality of their produce too.

The company is also exempted until 2017 from income tax, property tax, mandatory payments to the Republican Road Fund, and some customs dues.

More than 250 people work at GKD, which produces cotton cellulose for use in several areas of the manufacturing industry–in particular, paper.

Many of the goods manufactured in Uzbekistan are exported to South Korea, China, Indonesia, Germany, France, the Netherlands, Italy, Russia and Belarus.

The major factors of the successful activities in Uzbekistan are peace and calmness reigning in the country. GKD are rapturous to work in a peaceful, prosperous, dynamically advancing country.

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