More than 20 investors from Uzbekistan announced to invest in the textile sector and various other sectors of Pakistan. Uzbekistan would provide technical assistance to increase cotton production in Punjab.
“The announcement was made during Governor Chaudhry Sarwar’s visit to Uzbekistan. Governor laid the foundation stone of the first medical university to be established in collaboration with Governor Shavkat Abdurazzakov of Namangan province. Leading personalities from the business community of Uzbekistan and Punjab, and others were also present on occasion.”
The governor also met with investors from various sectors of Uzbekistan, including textiles, on the second day of his visit and invited them to invest in various sectors of Punjab. Investors from Uzbekistan have announced visiting Punjab soon and investing in various sectors. More such projects will be launched in the coming days, bringing the two provinces closer to each other and promoting investment, and creating employment opportunities in both provinces.
Sarwar said that Uzbekistan’s assurance of complete guidance of Pakistan regarding an increase in cotton production in Punjab is also welcomed, for which a delegation of Uzbek agricultural experts will soon visit Punjab.
He said we are also creating new special economic zones for domestic and foreign investors. In line with the vision of Prime Minister Imran Khan, we are ready to work with the business community to promote investment in Pakistan. All international organizations are also acknowledging the economic growth and stability in Pakistan.
Shavkat Abdurazzakov, Governor of Namangan Province, said any of our investors who invest in other sectors, including textiles in Punjab, will work the same as they do in their own country.
With annual cotton production of about 1 million tons of fiber (4–5% of world production) and exports of 700,000-800,000 tons (10% of world exports), Uzbekistan is the 8th largest producer and the 11th largest exporter of cotton in the world. Their cotton farming technology is good, which could increase Pakistan’s cotton production.
Therefore, it is hoped that such investment and technology transfer will benefit Pakistan.
