Binghalib Group to Expand Business Operations to Uzbekistan
Binghalib Group, an electrical engineering holding company based in the UAE, is looking to expand its operations to Uzbekistan in order to establish a new division that will cater to clients from Middle Eastern countries. This move comes after a meeting between the company’s CEO, Mohammed Binghalib, and a delegation from IT Park.
During the meeting, plans were discussed to open a new office in Uzbekistan and provide services for clients in the Middle East. The decision was influenced by the lower labor costs in Uzbekistan and the workforce’s proficiency in foreign languages. Over the next 3-5 years, Binghalib Group aims to create more than 2,000 jobs in the country.
One of the reasons for choosing Uzbekistan as a location for expansion was the opportunities it offers for investors. The business conditions in the country are seen as more flexible compared to special economic zones in the Middle East.
The IT Park delegation expressed their willingness to assist Binghalib Group in the process of localization and business expansion in Uzbekistan. This cooperation is expected to boost digital exports to Middle Eastern markets.
Binghalib Group, founded in 1982, is involved in manufacturing electrical products for various industries and households. The holding company consists of 16 divisions that focus on product development, production, installation, and equipment maintenance. Their product range includes communication devices, measuring and control equipment, smart home solutions, and more.
