Turkish OYAK may participate in privatization of chemical industry in Uzbekistan

The head of the MIFT, Sardor Umurzakov, received a delegation of the Turkish company OYAK, headed by Director General Suleyman Savas Erdem, Spot reports citing the ministerial press service.

The Turkish side expressed its intention to organize high-tech production in Uzbekistan, as well as interest in joint discussion and development of specific projects.

The leadership of the Turkish company is considering the possibility of creating in the country a cluster of agricultural chemistry and plant protection products, enterprises for the production of melamine and carbon black. Projects in the automotive industry are also being studied.

The company is also interested in cooperation in the service sector – for example, in the financial and logistics industries.

In addition, the prospects for OYAK participation in the privatization of state shares in large chemical enterprises in Uzbekistan were considered.

The Uzbek side expressed its readiness to support the business initiatives of Turkish partners and help resolve their issues.

Prior to this, Erdem met with the khokim of Tashkent, Jakhongir Artikhodjayev, to whom he introduced the company. The Turkish delegation also held talks with representatives of the AUGA and Uzkimyosanoat.

According to the State Statistics Committee, as of November 1, 2021, 1,830 companies with Turkish investments are operating in Uzbekistan. Turkey ranks third in terms of the total number of joint ventures and foreign ventures after Russia and China.

At the same time, Turkey has taken the first position in terms of the number of new companies. In 10 months, 321 enterprises with Turkish capital were opened.

For information, the OYAK group of companies includes assets in the steel and chemical industries, automotive (Oyak-Renault), construction, financial and other sectors. The core of the group is the pension fund of the same name, founded in 1961.