Uzbekistan Invites Pakistani Investors to Acquire 29 Textile Units, Proposes Joint Industrial Zone
Islamabad (NNP): Uzbekistan has expressed strong interest in selling 29 of its textile units producing yarn and fabric to Pakistani entrepreneurs, while also proposing the establishment of a dedicated Uzbekistan–Pakistan Textile Industrial Zone on Uzbek soil.The initiative includes attractive incentives such as tax holidays aimed at promoting joint industrial growth and enhancing prosperity for business communities in both countries.The proposal was presented by Rukhullo Zikrillaev, Deputy Director of Uzbekistan’s Agency for Development of Light Industry, who led an Uzbek delegation during a high-level meeting with the leadership of the Islamabad Chamber of Commerce and Industry (ICCI) at the Chamber House.Zikrillaev outlined flexible acquisition options for Pakistani investors, including installment-based payments over five years, low-interest credit facilities, and cashback guarantees.
He also emphasized opportunities for joint ventures, allowing Uzbek entrepreneurs to collaborate with Pakistani companies to bring high-quality Uzbek fabrics to Pakistan and produce ready-made garments for major European and US brands. This collaboration aims to enhance value addition and boost exports for mutual benefit.He also offered to establish cooperation with Pakistani Textile Sourcing companies by offering them up to 5% cash-back from their export amount from Uzbekistan.Highlighting the competitive cost structure in Uzbekistan, he informed that electricity tariffs are as low as eight US cents per unit. He further stated that Uzbekistan enjoys GSP Plus status with Europe and FTA with CIA countries, making it an attractive destination for export-oriented investments.President ICCI Sardar Tahir Mehmood said that Pakistan and Uzbekistan are fully aware of their immense potential in trade, transportation, energy, tourism, regional connectivity, and several other sectors. He expressed optimism that the visit would inject fresh momentum into bilateral relations and help convert goodwill into tangible outcomes.He said that ICCI is fully committed to enhancing overseas business linkages for the economic development of Pakistan and the benefit of the business community, and assured that the Chamber would actively disseminate this valuable information to relevant stakeholders as part of its institutional responsibility.Senior Vice President ICCI Tahir Ayub said that Pakistan and Uzbekistan enjoy the most cordial relations and emphasized the need to explore new avenues of cooperation to benefit the business communities and peoples of both countries.Advisor to ICCI President on Economy, Naeem Siddiqui termed the incentives offered by the Uzbek side as highly attractive and significant for Pakistani investors.The meeting was also attended by Vice President Irfan Chaudhry, Executive Members Malik Mohsin Khalid, Raja Naveed Satti, Zulqurnain Abbasi, Rohail Anwar Butt, and other members of the business community.Muhajid Ali Khan, Deputy Director, Uzbekistan Trade Center, and Nadia Aman, Secretary General Uzbekistan and CIS Trade Center. were also present in the meeting.
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