Версия для слабовидящих

+998 (71) 202-02-10

Companies of Uzbekistan and Hungary signed an investment agreement to establish production of sunflower oil in Jizzakh

The ceremony of signing an investment agreement for the production of sunflower oil in the Jizzakh region between BMB Trade Group (Uzbekistan) and Kiss Group (Hungary) was held via videoconference.

The event was attended by the Ambassador of Uzbekistan to Vienna Abat Fayzullaev, Ambassador of Hungary in Tashkent Peter Santo, Chairman of BMB Trade Group Bekzot Mamatkulov, Director of Kiss Group Laszlo Kiss and Head of Department of the Ministry of Investment and Foreign Trade Akram Aliyev.

Opening the event, Ambassador Abat Fayzullayev noted that the signing of an investment agreement for the production of sunflower oil in the Jizzakh region is a direct result of the agreements reached between the leaders of the two countries during the official visit of the Hungarian government delegation to Tashkent at the end of March 2021.

Director of “Kiss Group” Laszlo Kiss expressed gratitude to the Uzbek side and the company “BMB Trade Group” for its active involvement, as a result of which the parties were able to reach an agreement on the launch of this large-scale project. “The vast experience and potential of the Uzbek side in the agricultural sector, as well as the recently reached agreements between the two countries, will undoubtedly serve as a guarantee for the successful implementation of this project,” he said.

The head of BMB Trade Group Bekzod Mamatkulov stressed that this large-scale project is very promising and expressed the hope that it will further strengthen trade and economic cooperation.

According to the signed document, the design capacity of the Uzbek-Hungarian joint venture provides for the processing of more than 200 thousand tons of sunflower seeds per year. The total cost of the project is over 90 million euros, of which 52 million euros are direct foreign investments.

It should be emphasized that the growing demand for vegetable oil throughout the country clearly demonstrates the importance of the implementation of this project. According to statistics, the annual demand for vegetable oil in Uzbekistan is 475 thousand tons, while the republic’s fat-and-oil enterprises produce 259 thousand tons of products per year, providing only 55% of the needs of the republic’s population.

In addition, the implementation of the project will not only meet the needs of the domestic market, but will also allow exporting products to neighboring countries.