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President: "Although the power to re-cultivate land is sufficient, there are those engaged in cotton speculation"

During the videoconference chaired by Shavkat Mirziyoyev, attention was focused on the problems in the textile industry and measures to eliminate them.

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In the last 5 years, 396 large enterprises worth $3.5 billion were launched in the sector, employing over 500,000 people.

However, the slowdown in production and export rates, along with the twofold drop in cotton prices over the last three years, has put enterprises in a difficult situation.

The President criticized some "opportunists" who take advantage of cheap state resources to engage in cotton trade.

It was also noted that the sector has a $2.2 billion loan debt, and only 16% of enterprises possess international certification.

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