Why is this important
The project enhances the potential of Uzbekistan’s jewellery industry in line with the presidential decree supporting the sector. Export capacity and processing of precious metals are increasing; the government’s aim is to process up to 7 tonnes and export jewellery worth $300 million annually. Jobs are being created (currently 60, with full utilisation reaching about 300 high-paying positions), and modern technologies are being adopted—key to improving product quality and competitiveness.
What happened
- The opening ceremony took place on 12 September, with investors from Turkey, Jamil Aklla, and Azerbaijan, Nail Shahverdiyev.
- The factory belongs to AMASTA, with a charter capital of 500 million soums, and the owners are Shaxverdiyev and Ali Aqlli, each holding 50% ownership.
- Products under the Ferga Gold brand will be sold both domestically and internationally.
- The agreement is part of the June presidential decree supporting the jewellery industry.
Context
In June, the President of Uzbekistan set the goal of increasing the processing of precious metals to 7 tonnes per year, and the export of jewellery to $300 million. Additionally, from September 1, individual entrepreneurs gained the right to sell jewellery.
