The Ministry of Investments, Industry and Trade held a meeting with the leadership of the Italian company Cotonella, the press service of MIIT reports.
For reference: Founded in 1972, the Italian clothing company Cotonella is one of the leading brands of women’s, men’s and children’s knitted underwear. The company produces more than 20 million products annually, which are sold in 24 European countries.
During the meeting, the advantages of working in Uzbekistan, the practical aspects of the investment climate created in the country were presented.
The Italian side especially noted the progress made in recent years in the textile industry of Uzbekistan, which made it possible to significantly raise the level of quality of products and the volume of their exports to European markets. In this context, the company’s management decided to open a foreign enterprise Cotonella Uzbekistan in the Kashkadarya region of the republic.
During the meeting, the Italian side presented plans for a long-term presence in the Uzbek market. So, at the first stage after the launch of the enterprise, it is planned to produce up to 2 million ready-made knitwear per year, providing up to 80 people with permanent work. Further, the company intends to allocate $5 million to increase the production of high value-added products to 8 million units annually. Up to 500 new permanent jobs will be created.
The presented concept, along with the introduction of modern technologies, includes ensuring sustainable long-term development of the company, price competitiveness, as well as continuous improvement of design and expansion of the product line, and improving the professional skills of the company’s employees.
As a result of the meeting, readiness was expressed to provide comprehensive assistance for the successful work of Cotonella in our country.