A regular meeting of the Coordinating Council of Development Institutions was held in Bishkek, the Cabinet’s press service reported. The agenda included refinancing the current obligations of Textile Trans LLC, as well as addressing ongoing issues in the cotton cluster and ways to resolve them for the sector’s further development.
It was noted that Textile Trans LLC is one of the country’s leading textile producers.
Among the new projects presented was an initiative to build a cotton spinning factory. The planned facility will have the capacity to process 6,500 tons of raw cotton and produce up to 4,500 tons of yarn annually.
The implementation of this initiative is expected to strengthen the republic’s position in the regional textile market, expand export potential, create new jobs, and stimulate the development of related industries.
Special attention was paid to the role of development institutions and state banks in encouraging investment activity and supporting the real sector of the economy.
Deputy Chairman of the Cabinet of Ministers Bakyt Torobaev made a number of instructions, including: strengthening financial oversight in project implementation; preparing an expert proposal plan to support businesses in related industries; accelerating the introduction of project financing tools; developing solutions to secure raw material supplies and regulate market prices; and taking a systematic approach to advancing priority sectors, including agriculture and textiles.
