Ministry of Investment, Industry and Trade of the Republic of Uzbekistan

On March 18 of this year, Laziz Kudratov, the Minister of Investment, Industry, and Trade of the Republic of Uzbekistan, met with a delegation from the Hungarian OTP Group. He also participated in the ceremony to sign several bilateral agreements for the implementation of a significant investment project with the company, which is a member of the group.

The Uzbek delegation at the meeting was led by Jamshid Khodjaev, the Deputy Prime Minister of Uzbekistan, while the Hungarian delegation was headed by Gergely Pókos, the General Director of OTP Green.

During the meeting, both parties exchanged perspectives on key issues related to current Uzbek-Hungarian cooperation, the conditions established for foreign investors in Uzbekistan, and the measures implemented to support foreign businesses in our country.

The parties emphasized the ongoing development of cooperation between the two countries, supported by a robust political dialogue at the highest level, which has gained significant momentum in recent years. Hungarian businesses have confidence in Uzbekistan, as agreements and contracts totaling $1.3 billion were signed following the official visit of the President of the Republic of Uzbekistan, Sh.M. Mirziyoyev, to Hungary in October 2022.

Textile products, food items, pharmaceutical goods, mechanical and electrical equipment, and various other commodities constitute the foundation of bilateral trade.

As of October 1, 2024, there are 12 enterprises with Hungarian capital operating in Uzbekistan, which include 7 joint ventures and 5 wholly foreign-owned enterprises.

The portfolio of major investment projects includes the privatization of Ipoteka Bank by the Hungarian bank OTP, which is also part of the OTP Group, the establishment of a high-tech pharmaceutical enterprise in collaboration with Meditop Pharmaceuticals, and various other initiatives.

The mutual steps for the realization of a large project to create a poultry cluster in the Syrdarya region were discussed constructively by the company. After reviewing the details of the upcoming joint efforts, the parties proceeded to the document exchange ceremony. The Investment Agreement, land lease agreement for the Syrdarya region, and the founding and charter agreements with the Direct Investment Fund of Uzbekistan were signed.

For reference, within the framework of the project with ZA Invest, eight poultry farms, a hatchery, a poultry slaughterhouse, a processing shop, a feed mill, and refrigerating and administrative buildings will be constructed on 130 hectares of the cluster territory. The project's capacity will be 16 million broiler chickens and 120,000 tonnes of feed per year.

The project is financed by the OTP Green Fund and implemented by ZA-Invest Poultry, a subsidiary of the OTP Group.