Uzbekistan And Switzerland Set Up Joint Venture For Garment Machinery

　　 Uzbekistan Light industrial company and Swiss Lida textile machinery company are proposed to establish in Ukraine. Textile and garment machinery production joint venture company - "Lida Uzbekistan". The agreement signed by the two sides was confirmed by the presidential decree on organizing the production of modern textile machinery. Swiss Corporation will invest $2 million in the project from 2011 to 2012 to modernize textile machinery and upgrade its technology and equipment, and gradually organize textile equipment production on the basis of the "Uzbekistan textile and garment machinery company". The project will be implemented in three stages: the first phase (2011) will complete the plant and facilities construction, and process equipment installation and commissioning; the second stage (2012) will be put into production belt machine and carding machine; the third stage (2015) will be put into the metal processing workshop.

According to the order of president Wu, before July 1, 2015, "Lida Uzbekistan" company will be exempt from all taxes and fees, including the basic business tax deducted by the Wu highway fund, while enjoying the equipment, instruments, machinery and other materials and products that are not produced in Ukraine. Exemption from import duties Preferential policies.