A new Uzbek-Turkish jewelry cluster has officially launched operations in the heart of Bukhara, marking a major step forward in bilateral industrial cooperation and export-oriented production.

The opening ceremony took place on February 19 and brought together local jewelers and journalists. Among the attendees were Nodir Mirakhmedov, First Deputy Head of the “Uzbekzargarsanoat” Association, and Khusniddin Gairov, Assistant to the Governor for Industrial Development, The Caspian Post reports via Uzbek media.

The cluster was established through a partnership between Turkish company Ella Jewellery and NBU Jewelry Group, a subsidiary of NBU Invest Group - the investment arm of National Bank of Uzbekistan. Total investment in the project reached 38 billion soums ($3.111 billion).

The new facility is expected to create 100 jobs and has the capacity to produce up to 300 kilograms of jewelry annually. Officials estimate that the enterprise will contribute approximately 2.5 billion soums ($204.673 million) in tax revenues each year.

Located on Islam Karimov Street in central Bukhara, the building was acquired by NBU Jewelry Group at the end of 2024 and later underwent a major renovation carried out with the involvement of Everest Building Engineering.