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New Turkish investors show interest in implementing projects in Uzbekistan

Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan S. Umurzakov met with a delegation of the Turkish company “OYAK” headed by its General Director Suleyman Savash Erdem.

During the meeting, the prospects for organizing the activities of the Turkish investor in Uzbekistan were discussed, referring to the implementation of projects to create high-tech industrial production in the country.

It should be noted that during the visit to Uzbekistan, representatives of the company held targeted negotiations with the leadership of Uzkimyosanoat JSC, the State Assets Management Agency and the Tashkent city administration. The talks made it possible to study the prerequisites for establishing investment activities of Turkish investors in promising sectors and to exchange proposals for further cooperation.

During the dialogue at the MIFT, the Turkish side expressed interest in further cooperation with the aim of a substantive discussion of specific projects and the development of practical aspects and conditions for their implementation. In particular, it was announced that the company’s management is exploring the possibility of creating in Uzbekistan a cluster production of agricultural chemicals and plant protection products, enterprises for the production of melamine and carbon black, as well as implementing projects in the automotive industry.

The prospects for the participation of OYAK in the privatization of state shares in large chemical enterprises of Uzbekistan were also considered.

The Uzbek side expressed readiness to support Turkish investors in the implementation of their business initiatives and provide comprehensive practical assistance in resolving existing issues. As soon as possible, the Turkish side will be sent specific project proposals and the necessary information about the investment and industrial potential of the sectors in question.

As a result of the meeting, further steps were outlined to develop promising areas of cooperation and specific projects in the designated sectors.

For reference: OYAK was founded in 1961 and since its inception has achieved significant success in implementing projects in the automotive, agriculture, chemical industries, as well as in the construction, oil and gas and financial sectors.