President Mirziyoyev highlighted that unlike in other countries, Uzbekistan permits the sale of gold to entrepreneurs in installments. However, he expressed concern that despite being a significant gold producer, the country lags in jewelry exports.
“Countries that do not produce gold export more jewelry than we do. We are a little behind in this area. Therefore, we are creating additional conditions for production, and this is just the beginning. We will continue to develop this industry,” stated President Mirziyoyev.
During discussions with Turkish entrepreneurs, the President explored avenues for enhancing legislation in the jewelry sector. The factory visited by the President boasts a production capacity of 1200 kg of jewelry annually and is equipped with machinery from Türkiye, Italy, the USA, and Germany, with a project cost amounting to $6.5 million.
Presently, the company offers a staggering 10,000 varieties of jewelry and has ventured into collaborations with foreign partners for the production of gold watch cases, yielding 270 kg of products in 2023. Additionally, the company has fostered partnerships with local jewelers.
The establishment of the factory has led to a formalization of employment, pulling individuals out of the informal sector and contributing to an increase in job opportunities. The plant now employs over 100 individuals.
This initiative aligns with a decree issued by President Mirziyoyev in May 2019, aimed at expediting the development of Uzbekistan’s jewelry industry.
