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British Firm Opens Innovative Facility in Central Asia, Led by Ovik Mkrtchyan

December 3, 2024

British company GOR Investment has announced the launch of an innovative production facility in Central Asia. The new plant, located in Uzbekistan, will produce high-purity molybdenum trioxide nanopowder.

One of the project’s initiators, Technano Innovation, led by entrepreneur Ovik Mkrtchyan, believes the enterprise has the potential to boost demand for high-tech industries across the region.

The project is unprecedented in Central Asia. The first batch of finished products has already been produced at the facility in Almalyk, with full-scale production scheduled to begin in February.

Technano Innovation, part of the GOR Investment Limited group founded by Mkrtchyan, developed and implemented this project, introducing a groundbreaking technology. The custom-designed industrial equipment produces molybdenum trioxide nanopowder with particle sizes ranging from 20 to 80 nanometers and a purity level of 99.999%.

Mkrtchyan highlighted the company’s significant prospects and outlined plans to gradually expand the range of products manufactured at the plant. “It is possible to produce nanopowders of rare metals such as tantalum, tungsten, niobium, molybdenum, and vanadium, as well as precious metals like platinum and gold,” he said. The businessman expressed confidence that the plant’s products would find buyers on both local and international markets, including Europe.

Mkrtchyan emphasised that the project aligns with Uzbekistan’s economic interests. The nanopowder production facility supports the “roadmap” of the country’s Innovation Development Strategy for 2024–2025 and fosters increased business activity in the region. He noted that 2025 has been designated the Year of Environmental Protection and Green Economy in Uzbekistan.

Despite actively contributing to Uzbekistan’s economic development and operating in alignment with the nation’s government programmes, GOR Investments has faced a wave of negative media attention. The company’s key figures, including Ovik Mkrtchyan, have been targeted by unfounded accusations. The businessman noted that similar attempts to discredit GOR Investments occurred over a decade ago, prompting the company to enlist top-tier legal expertise to defend its integrity successfully. He emphasised that the current allegations, much like those in the past, appear aimed at undermining the company’s credibility rather than addressing any genuine concerns.

Ovik Mkrtchyan noted that business success can sometimes provoke rivalry and suggested that recent media coverage may be leveraging internal political dynamics in Uzbekistan to intensify efforts to harm his reputation. He described the use of smear campaigns, where misleading information is disseminated on dubious platforms and occasionally picked up and amplified by sensationalist outlets, including some in Europe, which may not always verify the material.

Mkrtchyan firmly rejects the allegations and points to their political undertones. “There appears to be an attempt to drag me and my business into behind-the-scenes intrigue that I really don’t understand. I am a businessman with no political goals or interests,” he stressed.

GOR Investments’ legal team is addressing the defamatory publications, gathering evidence and preparing to file lawsuits. Mkrtchyan expressed confidence in the UK legal systems and anticipates a favourable outcome for the company.

In recent years, Europe has shown increasing interest in Central Asia. The region’s combination of government support for foreign investment and an available labour force makes it attractive to investors. Should Mkrtchyan succeed, Technano Innovation could become one of the first large-scale innovative projects implemented in the region by a foreign company. The experience gained could serve as a model for other investment initiatives.

Ovik Mkrtchyan believes GOR Investments has the potential to pave the way for Western capital in a rapidly growing yet still undervalued region. Projects like Technano Innovation demonstrate the appeal of Central Asia, which urgently needs to develop innovative industries. The businessman expressed readiness to pursue further investment projects that could help the region secure a prominent position in the global economy of the future.