Photo: Ministry of Investments, Industry and Trade
According to the Ministry of Investments, Industry and Trade (MIIT), the meeting was led by Deputy Prime Minister Jamshid Khojayev for the Uzbek delegation and CEO of OTP Group, Gergey Pokosh, for the Hungarian delegation.
During the conversation, issues of Uzbekistan-Hungary cooperation, the conditions created for foreign investors in Uzbekistan, and measures to support foreign business in the country were discussed.
It was particularly emphasized that the cooperation between the two countries is consistently developing, aided by trust-based high-level relations in recent years. Hungarian businesses are showing great confidence in Uzbekistan – as a result of President Shavkat Mirziyoyev's official visit to Hungary in October 2022, agreements and contracts worth $1.3 billion were signed.
The main positions of mutual trade are textiles, food products, pharmaceuticals, mechanical and electrical equipment, and other goods. As of October 1, 2024, there are 12 enterprises with Hungarian capital operating in Uzbekistan, including 7 joint ventures and 5 wholly foreign-owned enterprises.
The investment project portfolio includes the privatization of the Mortgage Bank by OTP Bank, which is part of Hungary's OTP Group, the establishment of a high-tech pharmaceutical enterprise with Meditop Pharmaceuticals, and other projects. The next steps for implementing a large project to establish a poultry cluster in the Sirdarya region were constructively discussed.
Discussing the details of the work to be carried out in cooperation, the parties proceeded to the document exchange ceremony. In particular, the Investment Agreement, the land lease agreement in Sirdarya region, and the foundation and charter agreements with the Uzbekistan Direct Investment Fund were signed.
Within the framework of the project being implemented in cooperation with ZA-Invest, 8 poultry factories, an incubator, slaughter and processing workshops, a feed production enterprise, refrigeration and administrative buildings will be built on an area of 130 hectares in the cluster area. The project's capacity will be to produce 16 million broiler chickens and 120 thousand tons of compound feed annually.
The project will be financed by OTP Green Fund and implemented by ZA-Invest Poultry, which is part of OTP Group.
