Within the framework of the Turkmen-Singapore business forum, discussions were held on the possibilities of joint projects in the textile industry, on the significant export and investment potential of this industrial segment.
According to the State News Agency, at the business forum it was noted that over the years of independence, more than thirty investment projects were implemented in the textile industry of Turkmenistan, as a result of which dozens of modern enterprises equipped with advanced equipment were put into operation.
According to the information, currently, there are more than 70 enterprises in the industry: textile complexes, cotton spinning, weaving, sewing, silk-winding, carpet and Shoe factories, plants for primary processing of leather and wool. With the participation of foreign companies, 13 enterprises were put into operation. About 70 percent of textile products produced in the country are exported to the CIS, Europe, and Asia.
About $ 2 billion was invested in the construction of new and reconstruction of existing factories during the years of independence. And for the period 2015-2019, the growth of production in the textile industry of the country amounted to 142.7 percent, respectively, the level of its profitability increased during this time – from 6 to 18.7 percent. The growth rate of shipped products over the past five years is 122.1 percent.
Voicing these figures at a business forum in Singapore, representatives of Turkmenistan stressed that the country is interested in further increasing the export opportunities of this industry and, consequently, in establishing partnerships with Asian companies, the information says.
