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Masovia and Poland are tightening trade and economic cooperation with the Republic of Uzbekistan, RESBUD SE expressed its readiness to share its experiences in this market with Polish entrepreneurs

11.03.2024

Masovia and Poland are tightening trade and economic cooperation with the Republic of Uzbekistan, RESBUD SE expressed its readiness to share its experiences in this market with Polish entrepreneurs

Signing agreements on tightening trade cooperation, presenting conditions and investment prospects for Polish business in Uzbekistan, discussing practical aspects of economic cooperation, as well as the concept of establishing a pro-export regional economic mission - these were the main topics of the Masovian-Uzbek Economic Forum held on February 21 in Warsaw. The event was organized by the Marshal's Office of the Masovian Voivodeship in cooperation with the Trade and Economic Cooperation Department of the Embassy of Uzbekistan in Poland and the Uzbek Economic Association in Europe - EUROUZ. RESBUD SE, a company listed on the Warsaw Stock Exchange since 2007, took an active part in this important meeting for Polish and Uzbek business.

The economy of Uzbekistan has been developing at a very dynamic pace in recent years, and its economic indicators are at a high level. All this, combined with the ongoing economic transformation there and the development of entrepreneurship, resulted in increased interest in this region among investors from all over the world, including Poland.

Currently, over 2 companies from 000 countries operate in Uzbekistan. It was possible to learn about the opportunities and prospects for the development of trade and investment cooperation with Uzbekistan for Polish entrepreneurs during the Masovian-Uzbek Economic Forum. During the event, investment opportunities were discussed in industries such as: the agri-food industry, food processing technologies and machines, agricultural technologies, new energy technologies, cosmetics and pharmaceuticals, and construction technologies.

During the event, two significant agreements were also signed: on cooperation between the Chamber of Commerce and Industry of Uzbekistan and the National Federation of Small and Medium-sized Enterprises and on tightening cooperation between the Chamber of Commerce and Industry of Uzbekistan and the Poland-Asia Chamber of Industry and Commerce.

As Adam Struzik, Marshal of the Masovian Voivodeship, emphasized at the Forum, by organizing the Masovian-Uzbek Economic Forum, the region's authorities wanted to share knowledge and present all interested enterprises with opportunities and prospects for the development of trade and investment cooperation in Uzbekistan. In his opinion, the Masovian Voivodeship may be an attractive cooperation partner for this country due to many different factors, including: its central location or economic growth.

Masovia is also one of the largest exporters of agricultural products and places great emphasis on the use of new technologies and qualified staff. As Adam Struzik emphasized, the voivodeship authorities hope to develop trade cooperation with Uzbekistan and hope that the meeting as part of the Masovian-Uzbek Economic Forum "will turn into contacts and contracts."

The event participants also learned about the administrative, legal and market conditions for exports and investments in Uzbekistan. The following people took part in the expert debate: Davron Vahobov - President of the Chamber of Commerce and Industry of Uzbekistan, Oybek Shaykhov - Secretary General of the Euro-Uzbek Economic Cooperation Association (EUROUZ), Łukasz Grabowski - Director of the Export Department at the Polish Investment and Trade Agency, as well as Krzysztof Długosz – President of the Management Board of RESBUD SE, a Polish company that is dynamically developing its operations on the Uzbek market.

- We have been interested in the Uzbek market for almost two years. Last year, we decided to acquire a controlling stake in Elektrqishloqqurilish JSC, one of the leading contractors of power facilities in Central Asia. We are ready to share our experience from Uzbekistan with all interested companies. We invite Polish companies from every industry to cooperate. We will help them start their own business on the Uzbek market, and thanks to the relationships built there, we will be able to effectively improve this process - said Krzysztof Długosz, President of the Management Board of RESBUD SE.

The organizers announced that 140 people had registered for the Masovian-Uzbek Economic Forum, including representatives of 80 Polish companies. A delegation of representatives of the regional authorities of the Tashkent Oblast and an over 30-person delegation of Uzbek business also took part in the event.

Zoir Mirzayev, Governor of the Tashkent Oblast, emphasized that he is convinced that the Masovian-Uzbek Economic Forum will strengthen Polish-Uzbek cooperation in many spheres and open new doors for deepening economic ties between the two countries. He expressed hope that the event participants would jointly familiarize themselves with all available investment opportunities that are beneficial to both Poland and Uzbekistan.

Takeover of the controlling stake of Elektrqishloqqurilish JSC by RESBUD SE

On September 6, 2023, RESBUD SE and its subsidiary Conpol sp. z o. o. signed an agreement with Uralska Energetyczny-Budowlana Spółka Akcyjna for the purchase of 100% of shares in two companies: Grid Solutions LLC and United Grid Solutions LLC, both based in Tashkent (Uzbekistan). ), owning directly 95 shares of Elektrqishloqqurilish JSC, i.e. 144% of its share capital. The transaction enabled RESBUD SE to expand into the dynamic market in Central Asia.

About the company Elektrqishloqqurilish JSC

Elektrqishloqqurilish JSC is a company operating in the electricity sector, engaged in the production, construction, installation and modernization of power lines and the construction of power substations in the Republic of Uzbekistan, as well as the production of steel and reinforced concrete products. It is considered one of the leading contractors of power grid facilities in Central Asia - it has performed power electrical work for such manufacturing companies as: Hyundai Engineering, Eriell, Hengyuan Group Co. Ltd. or Lukoil.

The company's assets include the Namangan Iron Structures Plant, the Kuvasoy Concrete Products Plant, the Tashkent Technological Devices Production Plant and other assets. The company employs approximately 900 people and has 430 machines, including: trucks, bulldozers, truck cranes, hydraulic machines, excavators and mobile power stations. The company's developed internal logistics ensures efficient functioning of all company departments and optimal use of its capabilities and resources.

 

Contact for media: media@resbud.pl

IR contact: ir@resbud.pl

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