ISLAMABAD, September 30. /Dunyo IA/.  Pakistani conglomerate “Nishat Group” is exploring the implementation of investment projects in Uzbekistan, specifically targeting the hospitality industry, Islamic finance and other sectors, reports Dunyo IA correspondent.

Ambassador Extraordinary and Plenipotentiary of the Republic of Uzbekistan to the Islamic Republic of Pakistan, Alisher Tukhtaev, held a videoconference with the Chairman of the “Nishat Group”, Mian Muhammad Mansha. During the briefing, the parties deliberated on prospective investment ventures and novel avenues for mutually beneficial economic cooperation.

In particular, the interlocutors examined opportunities for executing joint projects with the participation of “Nishat Group” in the textile industry, hospitality and tourism infrastructure, food processing, as well as Islamic finance and banking services.

Mian Muhammad Mansha highlighted the group’s international expertise in the hospitality sector, noting that the corporation operates prominent luxury hotels in Lahore and London. He further announced that the company is scheduled to inaugurate its newly established premium hotel property in Islamabad this November.

“Given the rapid development of the tourism sector in Uzbekistan and the robust demand for high-end hotel infrastructure, I consider the execution of an investment project in this field to be highly lucrative for our group”, Chairman stated.

Leadership of “Nishat Group” also expressed interest in exploring the potential establishment of an Islamic bank in Uzbekistan. Given the corporation's extensive experience in the Islamic banking sector in Pakistan, the parties will consider options for creating a standalone Islamic bank or executing a joint venture banking project with local partners, strictly in compliance with the legislation and licensing requirements of the Republic of Uzbekistan.

Following the negotiations, an agreement was reached to organize a visit to Uzbekistan by a delegation from “Nishat Group”, led by the company’s executive leadership and technical specialists.

“Nishat Group” is one of the leading conglomerates in Pakistan, with a diversified business portfolio spanning the textile industry, banking and financial services, building materials manufacturing, insurance, energy, hospitality, real estate, agriculture, automotive, and aviation sectors. The group’s corporate structure comprises “Nishat Mills Limited”, “MCB Bank Limited”, “MCB Islamic Bank Limited”, “D.G. Khan Cement Company Limited”, “Adamjee Insurance Company Limited”, “Nishat Power Limited”, “Nishat Hotels and Properties Limited”, “Nishat Dairy” and “Hyundai Nishat Motor” (Private) Limited.