China’s Red Dragonfly eyes $10M investment in Uzbekistan’s shoe industry

The decision followed discussions between Uzcharmsanoat Chairman Akbar Sultanov and Red Dragonfly executives during the Uzbekistan-China Business Forum held in Chengdu last week. The talks explored investment opportunities and strategies for collaboration in the leather and footwear sectors.

Red Dragonfly expressed its willingness to cooperate in leather processing and footwear production under its brand. Additionally, the possibility of joint ventures in the production of fur garments was discussed. The delegation of Uzbekistan presented details about the country’s industrial zones specializing in leather production, highlighting their potential for hosting the project.

As a next step, a delegation from Red Dragonfly will visit Uzbekistan by the end of December to assess various industrial zones and finalize the location for the manufacturing facility.

Earlier this year, Uzcharmsanoat announced plans to create a dedicated 60-hectare industrial zone for Chinese footwear producers in the Yukorichirchik district of the Tashkent region. This zone is set to include a training center for workers and certification laboratories to ensure product quality.