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H.I.S. Holdings intends to strengthen its presence in Uzbekistan

On 15 December 2020, within the framework of the visit of a government delegation to Japan, negotiations were held between the Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov with the Chairman of the Board of Directors, President of H.I.S. Holdings Hideo Sawada.

During the negotiations, topical issues of the company’s investment activities in Uzbekistan were discussed. Significant progress was noted in the implementation of projects, in particular – the project for the construction of a hotel complex on the territory of the park named after A. Kadiri in Tashkent. The hotel is expected to be operational in 2021.

Taking into account the significant experience of the company in attracting tourist flows and creating the appropriate infrastructure with the introduction of innovative technologies that make it possible to increase the efficiency of using tourist facilities, the parties also considered the prospects for implementing new projects for the construction of hotels in the cities of Samarkand and Bukhara.

The issues related to the company’s participation in the development of the financial sector, in particular, with the initiative to acquire a stake in one of the banks of Uzbekistan, were raised. The parties outlined further actions for the implementation of the project and worked out various investment mechanisms.

As a result of the meeting, priorities were outlined in the development of further cooperation and, on a mutual basis, the readiness to continue close cooperation in order to expand the presence of the Japanese holding in the Uzbek market was confirmed.