Uzbekistan and Hungary have taken a step in expanding their economic cooperation with the signing of key agreements for a large-scale poultry project in the Syrdarya region. The signing ceremony took place on March 18, attended by Uzbekistan’s Minister of Investment, Industry, and Trade, Laziz Kudratov, and a delegation from the Hungarian OTP Group.

The Uzbek delegation was led by Deputy Prime Minister Zhamshid Khodjaev, while Hungary was represented by Gergely Pókos, General Director of OTP Green. The parties discussed investment conditions, Uzbek-Hungarian trade relations, and measures to support foreign businesses in Uzbekistan.

Hungary’s economic ties with Uzbekistan have strengthened in recent years, bolstered by high-level political dialogue. Following President Shavkat Mirziyoyev’s 2022 visit to Hungary, bilateral agreements worth $1.3bn were signed. Trade between the two countries includes textiles, food products, pharmaceuticals, and machinery.

As of October 2024, 12 Hungarian-funded enterprises operate in Uzbekistan, comprising seven joint ventures and five fully foreign-owned firms.

The newly signed agreements pave the way for developing a poultry cluster in Syrdarya. The project will span 130 hectares and include eight poultry farms, a hatchery, a slaughterhouse, a processing plant, a feed mill, and refrigeration and administrative facilities. Once operational, the cluster will produce 16mn broiler chickens and 120,000 tonnes of feed annually.

The project is financed by the OTP Green Fund and implemented by ZA-Invest Poultry, a subsidiary of OTP Group. The agreements include an investment deal, a land lease for the project site, and charter agreements with Uzbekistan’s Direct Investment Fund.