Atyab Investments, a prominent Omani company, has expressed its intent to construct a fruit and vegetable canning facility in Uzbekistan, Uretail.uz reported. The announcement came during a meeting between the director of Atyab Investments, Haitham al-Fann, and Uzbek Ambassador Abdusalom Khatamov.
The proposed factory aims to bolster Uzbekistan's food processing industry, with Atyab Investments prepared to supply state-of-the-art equipment for packaging various food products, particularly fruits and vegetables. The investment is projected to total $4mn, reflecting the company's commitment to expanding its operations into new territories.
Haitham al-Fann is scheduled to visit Uzbekistan in March to further discuss the investment plans with relevant ministries and departments, signifying a significant step toward realizing this bilateral economic endeavor.
Established in 1977, Atyab Investments holds the distinction of being Oman's first publicly traded company in the food industry. The company has a track record of investing in quality infrastructure, having previously allocated $2mn towards establishing a laboratory and training center in the Tashkent region, aimed at securing international certifications for exported food products.
The company's subsidiary, Atyab Foodtech, plays a pivotal role in ensuring adherence to stringent quality standards, both domestically and internationally. Leveraging state-of-the-art technology, Atyab Investments endeavors to optimize its operations and maintain unparalleled product excellence across its diverse portfolio. Furthermore, the company remains steadfast in its commitment to ongoing research and development endeavors, underscoring its dedication to innovation and continuous improvement across all facets of its business operations.
Uzbekistan and Oman relations
Diplomatic relations between Uzbekistan and Oman were formalized on April 22, 1992, and have since witnessed steady progress. The establishment of embassies in Muscat and Tashkent has facilitated closer cooperation between the two nations, with a focus on enhancing trade, economic collaboration, and joint ventures.
Historical ties, including the influence of ancient trade routes like the Silk Road, continue to underpin economic exchanges between Uzbekistan and Oman. Omani ports have historically served as crucial nodes along these routes, facilitating the movement of goods between Asia, Africa, and beyond.
The emergence of UzOman Capital, a joint Uzbek-Omani investment firm, has further bolstered economic ties, with successful ventures totaling approximately $200mn. Both governments remain committed to leveraging this partnership to attract further investment from Omani stakeholders and foreign investors, underscoring the mutual benefits of enhanced cooperation.
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