Turkish company plans to open a jewelry factory in Namangan

The Turkish jewelry company Lucca Gold Factory is planning to invest in Uzbekistan, according to the press service of the Namangan regional administration.

On March 3, the head of the regional administration, Shavkat Abdurazzakov, met with a delegation from the company, led by its CEO Yalçın Akın. The parties discussed the establishment of a joint jewelry manufacturing enterprise with foreign investment.

The company is launching the Namangan Gold Factory, which will receive $5 million in direct foreign investment.

During the meeting, participants highlighted the region’s potential for jewelry production and export, as well as Lucca Gold Factory’s expertise in the industry. The Turkish delegation will determine the exact location of the future facility after reviewing available sites.

In March 2024, President Shavkat Mirziyoyev emphasized the need to expand jewelry production during a visit to the Gavhar Group jewelry factory in Namangan. He pointed out the low volume of gold processing in Uzbekistan and pledged full support for the industry's development and production growth.

Earlier, in January, the governor of Fergana region, Khayrullo Bazarov, discussed a jewelry factory project with an Uzbek-Turkish consortium. That project aimed to attract $10 million in investments, with a portion of the products intended for export to the United States and European countries.