National Bank of Uzbekistan provides support to bankrupt-enterprises

In 2009, the National Bank for Foreign Economic Activity of the Republic of Uzbekistan established investment companies "NBU Invest Group" and "NBU Investment". The main direction of their activities is the management of assets of subsidiaries established on the basis of a property of bankrupt enterprises. Thus, the main goal of these companies is the establishment of manufacturing enterprises and its further realization to strategic investors. One of such companies is LLC "Namangan Tukimachi" operating in the city of Namangan.

Note that the National Bank for Foreign Economic Activity of the Republic of Uzbekistan pays great attention to the reconstruction of bankrupt enterprises, their technical and technological re-equipment and financing of projects for the launch of new production capacities. As a result of carried out repair works at LLC "Namangan Tukimachi", the production process of the enterprise was resumed in 2013. Currently, it produces high-quality export-oriented products.

– The company is equipped with spinning technology of the Swiss company Rieter, German companies Trutschler and Schlafhorst and Japanese - Toyoda. In 2014 using this equipment, the enterprise produced yarn for a total amount of 20 billion soums, hereby 80 - 85 percent of this production was exported. At that, within 6 months of the current year the plant produced yarn in the amount of 9.3 billion soums and exported products worth $2.6 million. I would like to note, that at present the company employs more than 500 boys and girls. 30 percent of them are graduates of professional colleges, - says the Deputy Director on production of LLC "Namangan Tukimachi" Ramazon Radjabov.

UzReport