We are currently extracting 100 tons of gold annually - Mirziyoyev visited a jewelry enterprise in Namangan

Today, on March 25th, President Shavkat Mirziyoyev toured the Namangan region, as reported by the President's press service.

Initially, the head of state visited the "Gavhar Group" enterprise in New Namangan district, which boasts an industrial capacity for producing 1,200 kilograms of jewelry each year.

The "Gavhar Group" LLC, established in 2022, has integrated modern equipment from Turkey, Italy, USA, and Germany into its operations.

Presently, the enterprise has diversified its jewelry production to include 10,000 distinct designs and initiated collaboration with foreign partners to craft gold watch casings. In 2023, they produced 270 kilograms of such products, and they offer customized items through 3D modeling.

The ability to procure gold from the Commodity Exchange under deferred payment terms is crucial for ensuring working capital and production continuity.

By fostering cooperation with local artisans, the enterprise has brought formerly informal workers into the formal economy, providing employment to over 100 individuals and vocational training opportunities for young people.

President Mirziyoyev emphasized the significance of gold mining in the country, highlighting the unique opportunity for jewelers to purchase gold on installment terms, a practice not common elsewhere. He also acknowledged the need to increase gold processing within the country to compete with non-gold mining nations.

Additionally, there was an exchange of insights with Turkish entrepreneurs and discussions on legislative improvements concerning the sector.

The President also examined the operations of the "Mekhmash" LLC, which specializes in producing 20,000 tons of nails and 18,000 tons of roll paper annually, with an export value of $6 million and providing employment to 700 individuals.

Plans were outlined to meet market demands by expanding fastening product volumes for the automotive industry and creating more job opportunities.