A $110 million equity investment in the largest supermarket chain in the country showcases Uzbekistan’s appeal as a favourable destination for foreign direct investment, highlighting the confidence international investors have in the country’s retail sector.
The minority investment is backed by key international partners:
Abu Dhabi Uzbek Investment (ADUI), which is a joint venture between Abu Dhabi Fund for Development (UAE) and the Uzbekistan Fund for Reconstruction and Development (UFRD); and
Uzbek-Oman Investment Company (UzOman), who led the consortium of Omani Sovereign investment funds, which is a joint venture between Oman Investment Authority (OIA) and the Fund for Reconstruction and Development of Uzbekistan (UFRD).
This marks the second major investment in recent years for Korzinka following the European Bank for Reconstruction and Development’s (EBRD) investment in 2020.
The government remains committed to promoting an open, competitive, and investor-friendly business climate.