Measures Discussed to Promote Cotton-Textile Industry and Agriculture Development

A meeting of the Coordination Council of Development Institutions was held at the Yntymak Ordo complex, chaired by Deputy Prime Minister Bakyt Torobaev. Deputy Minister of Economy and Commerce Sultan Akhmatov took part in the meeting.

The main topic of the meeting was stimulating investment and developing the textile and agricultural sectors. Participants discussed measures to support business, the situation in the cotton cluster, and issues related to the formation of a raw material base.

Particular attention was paid to two projects:

• the $11.2 million project of Textile Trans LLC, related to the refinancing of obligations and expansion of production;
• a project to build a cotton spinning factory with a processing capacity of up to 6,500 tonnes of raw cotton and a production capacity of up to 4,500 tonnes of yarn per year.

Following the meeting, the Council determined further steps: to strengthen control over the implementation of projects, prepare expert business support programmes, introduce project financing, and develop measures to regulate prices and form a raw material base.

It is expected that this will develop the cotton-textile chain, increase exports, create new jobs and strengthen the economic potential of the regions.