Pakistani business group explores investment opportunities in Uzbekistan

Pakistan’s Nishat Group Considers Investment Projects in Uzbekistan in Hospitality, Islamic Finance and Other Sectors, the correspondent of Dunyo news agency reports.

Uzbekistan’s Ambassador to Pakistan, Alisher Tukhtaev, held a videoconference with Muhammad Mansha, Chief Executive Officer of the company. The parties discussed promising investment projects and new areas of mutually beneficial cooperation.

In particular, they considered opportunities to implement projects with the participation of Nishat Group in the textile industry, hospitality, food processing, Islamic finance and banking services.

Muhammad Mansha highlighted the group’s international experience in the hospitality sector. According to him, the company operates hotels in Lahore and London and plans to open a new hotel in Islamabad in November this year.

“Given the development of tourism in Uzbekistan and the high demand for hotels, I believe that implementing an investment project in this sector would be beneficial for us,” the businessman said.

The management of Nishat Group also expressed interest in exploring the possibility of establishing an Islamic bank in Uzbekistan. Taking into account the company’s experience in Islamic banking in Pakistan, the parties will consider options for establishing a standalone Islamic bank or implementing a joint banking project with local partners, in accordance with Uzbekistan’s legislation and licensing requirements.

Following the talks, the parties agreed to organize a visit to Uzbekistan by a Nishat Group delegation led by the company’s management and specialists.

Nishat Group is one of Pakistan’s largest business groups, operating in textiles, banking and finance, construction materials, insurance, energy, hospitality, real estate, agriculture, automotive manufacturing and aviation. The group includes Nishat Mills Limited, MCB Bank Limited, MCB Islamic Bank Limited, D.G. Khan Cement Company Limited, Adamjee Insurance, Nishat Power Limited, Nishat Hotels and Properties, Nishat Dairy and Hyundai Nishat Motor.