During discussion of opportunities of joint projects in textile industry under Turkmen – Singapore business forum, the focus was made in significant export and investment potential of this industrial section.
It was mentioned that more than 30 investment projects have been accomplished in textile industry for the years of independence, which resulted in opening of dozens of modern facilities provided with advanced equipment.
At present time, more than 70 facilities including textile complex, cotton spin mills, sewing, silk spinning, carpet and shoe factories, leather and wool processing plants operate I the country. It was mentioned that 13 facilities have been opened in the country with participation of foreign companies. Around 70 percent of textile production made in the country is exported to CIS, European and Asian countries.
In general, around 2 billon US dollars have been invested to the construction of new and reconstruction of existing factories for the years of independence. The production growth rate of textile industry of the country was 142.7 percent for 2015 – 2019, hence, the level of profitability has grown from 6 to 18.7 percent for this period. The growth rate of volumes of shipped production is equal to 122.1 percent for the last five years.
Presenting this figures at the business forum in Singapore, representatives of Turkmenistan highlighted that the country is interested in further improvement of export capabilities of this sphere and hence, in establishment of the partnership with Asian companies.
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