Tashkent, Uzbekistan (UzDaily.com) -- Khorezm region will increase the volume of yarn processing to 60%.

It is noted that currently only 30% of the yarn produced in the region is processed.

In this regard, the importance of attracting US$280 million in investments to the region this year and increasing yarn processing to 60% was noted.

This was announced during a meeting on priority tasks of socio-economic development of the Khorezm region.

Textile enterprises exporting more than US$10 million will be provided with a loan of up to US$5 million as working capital.

Enterprises will receive assistance in attracting highly qualified specialists from abroad in the field of design and marketing, and opening trading houses abroad.

Some 12 projects worth US$50 million will be located in the Special Medical Industrial Park in Urgench.

The importance of increasing the number of pharmaceutical enterprises to 26 and the type of products produced to 50 by the end of the year was emphasized.

In general, the goal was to attract US$1.5 billion of investment, of which US$1 billion of foreign investment and US$600 million of exports