Uzbeklegprom State JSC has planned a five year project from 2015-2020 to increase domestic processing of cotton fiber for which the company will direct about US$1 billion and decrease its exports in line with the concept of developing light industry in Uzbekistan, the head of the Uzbeklegprom main department Dilbar Makhmudova told on Sept. 5.

A development program concept for the next five year was developed by Uzbekyengilsanoat in cooperation with several ministries and departments.

The program provides for an increase in domestic processing of cotton fiber from 44 percent to 70 percent by 2020, with a corresponding increase in textile export from $800 million to $1.5 billion.

In 2013, the production of cotton fiber in Uzbekistan increased by 1.4 percent - up to 1.087 million metric tons compared to 2012.

The projects will be executed to increase the production of cotton yarn by 2.6 times compared to the expected outcome of the 2014 - up to 562.800 metric tons, production of cotton fabrics will increase by 2.8 times - up to 340 million square meters, knitted fabric - by 2.9 times up to 110.500 metric tons, jerseys - by 2.1 times up to 296 million units, garments - by 3.3 times up to 20.1 million units over the next five years.

The project funding will be done through direct investment by domestic enterprises and foreign investors, as well as loans from Uzbek banks.

Uzbekistan annually produces about 3.5 million metric tons of raw cotton and 1-1.2 million metric tons of cotton fiber of which about 60 percent of produced cotton is exported