Singapore Invested $55 Million In Uzbek Cotton Textile Industry
according to
Uzbekistan
According to the announcement of the state owned assets committee, in early July 2010, Indorama Industry of Singapore bought a textile joint venture in Kokand, Fergana, at zero cost.
At the same time, Indorama Industry has committed to invest $55 million in the next 4 years for enterprise pformation, so that the lint processing capacity of the joint venture will reach 20 thousand tons per year by 2013.
Export volume
About 30 million dollars.
Since 2006, the Ukrainian government has begun to sell textile enterprises that stop production or go bankrupt to foreign companies. By the end of 2009, the total amount of textile enterprises purchased by China, India, Korea and other countries in Ukraine amounted to US $280 million.
Supplement:
according to
Pakistan
"Business records" reported on July 4th, information sources said that the Ministry of textile industry of Pakistan intends to extend the 15% adjustment tax policy on cotton yarn export, which was originally due in July 26, 2010, to extend 2 months to September 27th, so as to facilitate the smooth acquisition of raw materials from the high value-added textile sector in the context of rising global cotton and cotton yarn prices.
The Pakistani textile industry is deeply disturbed by this, saying that the extension of the policy may make the spinning industry on the road of no return.
The textile industry believes that due to the snowstorm this year, China's cotton production will continue to be high. The price of the world's cotton and cotton yarn will remain high in the first quarter. It is suggested that policymakers and textile related departments and people should formulate a joint strategy as soon as possible to avoid the continuous crisis.
Analysts believe that the most effective way is to give financial support to the high value-added textile sector to offset the impact of domestic and foreign high cotton yarn prices.
According to the Pakistan business record July 4th, Pakistan Jawed Bilwani, a high value-added textile forum coordinator, said in a recent interview that the shortage of cotton yarn affected the performance of the exporters, which led to the gradual reduction of foreign textile orders, resulting in a sharp decline in the share of the international textile market.
He said that the sluice Limited electricity, high electricity charges and natural gas prices and many taxes caused the cost of Pakistan textile industry to be higher than that of neighboring countries, and seriously weakened its competitiveness.
Bill van Ni said that the high value-added textile sector creates a large amount of foreign exchange earnings per year and is the most employed sector in the country.
The government should strictly restrict the export of cotton and cotton yarn, and introduce China's 17% export tax rebate policy to the textile industry, and introduce incentive policies and measures to help it out of the current predicament.
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