Tashkent, Uzbekistan (UzDaily.com) — Orient Group Management has resolved its dispute with the Committee for Competition Development and Consumer Rights Protection.

On 14 August 2024, information was published regarding measures taken against Orient Group Management and the Uzbek-Omani Investment Company (UzOman) due to shortcomings in their interaction with the antimonopoly authority during the restructuring of participant shares in the logistics enterprise Highway Logistics Center.

Representatives of Orient Group Management reported that the issue was successfully resolved.

Orient Group Management noted that the antimonopoly authority acted in accordance with the Law on Competition, which requires obtaining prior consent from the antimonopoly authority in cases where the balance sheet value of assets or revenue from the sale of goods for the last calendar year of one of the participants in a merger or acquisition deal involving up to one-third of a share in an LLC exceeds 250,000 times the basic calculation value (85 billion soums), or the total balance sheet value of assets or revenue from the sale of goods for the calendar year exceeds 500,000 times the basic estimated value (170 billion soums).

Davron Ozgurer, the Acting CEO of Orient Group Management, stated that the situation was resolved: “In cooperation with the Committee for Competition Development, we reached a mutual understanding on the key aspects of our deal with UzOman. By taking the measures requested by the state authority and resolving legal aspects, we have begun implementing our ambitious plans for further developing the Highway Logistics Center. This project is truly large-scale and unparalleled in the republic, aimed at attracting foreign investments and international brands. The enterprise cannot be classified as a monopoly, which is acknowledged by representatives of the antimonopoly authority.”

It is noted that the Highway Logistics Center is a modern logistics hub conveniently located near the border with Kazakhstan, including Class A warehouse facilities and a dry port for freight road transport. Participants of the enterprise believe that the logistics sector is a national priority, guided by the words of the President of Uzbekistan, Shavkat Mirziyoyev: “This sector is vital for the economy. If we do not bring transport and logistics to a new level, we will not be able to ensure stable economic development.”

The participants of the Highway Logistics Center emphasized that changes in antimonopoly regulation contribute to strengthening the structure of state governance and make it more attractive for foreign investors.

The Committee for Competition Development and Consumer Rights Protection emphasized the importance of effective cooperation with large national companies such as Orient Group Management to ensure compliance with competition laws. The Committee also hopes that this case will serve as an example for other companies and encourages them to comply with current competition laws by implementing internal antimonopoly compliance rules.