Plans for a new technology park and shopping mall in Margilan, Uzbekistan, have gained momentum with the involvement of Iranian startups. The project, announced by the regional administration, will transform a former weaving mill into a hub for innovation and commerce.

Khokim (mayor) of the region, Khairullo Bozorov, recently held discussions with Iranian businessman Shafi Gulom Rizo, founder of Mr. Fish Company, and investor Katayun Behzadi, to advance the initiative. The $5mn project aims to create 500 jobs and attract Iranian companies specializing in innovative technologies.

The technology park and shopping complex will span 10 hectares, with six hectares designated for production facilities. This venture is expected to boost the local economy by enabling Iranian startups to both manufacture and sell their products within Uzbekistan.

The projected production volume for the new facilities is estimated at $80mn, with annual budget revenues anticipated to reach approximately UZS 100bn ($7.9mn).

In addition to economic benefits, the project includes an educational collaboration with Fergana Polytechnic University and plans to establish a practical department of Iran’s Sharif University of Technology within the technology park.

This development aligns with broader efforts to enhance Uzbekistan’s technological and industrial capacities. A separate $350mn textile industry technopark is currently under construction in the Tashkent region, with completion expected by the end of 2025.