The company-owner of "Zara", "Pull & Bear", "Bershka" is exploring the possibility of implementing projects in Uzbekistan

    Business 10 June 2022 1516

    The Ministry of Investment and Foreign Trade of the Republic of Uzbekistan held a meeting with representatives of the Directorate of Social Stability of the Spanish company "INDITEX".

    During the meeting, the parties discussed the reforms implemented in Uzbekistan in the textile industry in recent years, including the introduction of a new "cluster" approach to growing and processing cotton, the eradication of child and forced labor in the collection and cultivation of cotton, systematic state support for industry enterprises producing eco-friendly clothing, Uzbekistan obtaining the status of a country-beneficiary of the Universal System of Preferences of the EU "GSP+", as well as the lifting of the global boycott of Uzbek cotton by the International Cotton Campaign Coalition.

    Effective measures to support business in the country, opportunities for entrepreneurial growth and prospects for increasing the company's investment portfolio in Uzbekistan were also comprehensively considered.

    During the meeting, INDITEX representatives were informed about the opportunities to increase the involvement of Uzbek textile manufacturers in global production and supply chains, the potential of textile companies operating in Uzbekistan and cotton-textile clusters, measures being implemented to improve the working conditions of industry workers, reducing the impact of production processes on the environment and consumers.

    The participants of the meeting discussed in detail the prospects for establishing the company's activities in Uzbekistan, bearing in mind, including the implementation of joint projects. Further steps are planned to study the industrial potential of the textile industry, assess the capacity of the market and work out other aspects of practical cooperation, the press service of MIVT RUz reports.

    For reference: INDITEX, which manages assets with a total value of about $ 20 billion, includes the world's most famous textile brands, including ZARA, Bershka, Massimo Dutti, Pull&Bear and other brands.