Czech manufacturer Škoda Group has announced plans to enter the Uzbek market through a joint venture.
According to the company’s press service, Škoda Group continues its business activities focused on the Central Asian market and deepens its cooperation with Uzbekistan. Petr Novotný, CEO Škoda Group, participated in business negotiations led by Uzbek President Shavkat Mirziyoyev in Brussels late in October. The aim of the round table focused on developing partnerships between Uzbekistan and European industry leaders was, among other things, to strengthen cooperation in the modernization of transport infrastructure.
“Central Asia is a promising market for us, one that we have been focusing on in our business strategy for a long time. High-level talks between representatives of Uzbekistan and European business leaders confirm that European technology and experience can contribute significantly to the sustainable development of transport infrastructure in this Central Asian country,” Petr Novotný, CEO Škoda Group, commented on the meeting.
At the meeting, Škoda Group presented its strategic plan to enter the Uzbek market through a joint venture. According to the plans, the joint venture will focus on three main areas:
local assembly of railway vehicles;
maintenance and servicing throughout the entire life cycle of the vehicles;
establishment of the Škoda Academy for local education and professional development.
“Each of the three areas represents a concrete step towards fulfilling the new Enhanced Partnership and Cooperation Agreement and the European Global Gateway strategy. We consider Uzbekistan to be a country that is opening up to new investments from European business partners. It has long been in our sights in terms of our strategic ambitions. We therefore very much welcome the opportunity to contribute to the development of sustainable transport, education and technological modernization in the local market,” added Novotný.
President Mirziyoyev praised Škoda Group’s contribution to the development of the transport sector in Uzbekistan, particularly the transfer of European technology and know-how. He also expressed his support for Škoda Group’s long-term presence on the Uzbek market.
