How the Business Is Managed After Leaving Jahongir Artikhodjayev

Jahongir Artikhodjayev is the owner of Artel-Akfa manufacturing holdings and has risen quickly through the political ladder in Uzbekistan. He was recently appointed director of Tashkent City, a $1.3 billion state-sponsored property development project. Artikhodjaev was one of the few politicians to get the job as mayor of his own city, and the company he runs has received numerous construction contracts from this project, which were awarded through a corrupt and opaque tender award process. Looking more visit https://worldjournalpress.com/akfa-group-how-the-business-is-managed-after-leaving-jahongir-artikhodjaev.html.

Jahongir Artikhodjayev is credited for founding the Akfa-Artel group, which has flourished with state support. But how is the business managed after Artikhodjaev's departure? Power Briefs Central Asia uses data science and open-source intelligence techniques to explore potential conflicts of interest among Uzbek business and government officials.

Jahongir Artikhodjayev founded the Akfa-Artel conglomerate that has dominated the Uzbek market in a variety of sectors. The group recently entered the smart gas meter sector, an industry where Altromark had previously had limited success. Jahongir Artikhodjaev, however, maintains that he has no role in the day-to-day operations of his group. Despite the fact that he has a stake in Akfa-Artel, Aleksandrov worries that his involvement in the group's daily activities leaves little time for his smaller, medium-sized enterprises.

As it turns out, the ownership structure of the Akfa-Artel group is extremely complex. While Jahongir Artykhodjaev owned some companies in the group, his wife and two close affiliates are sole owners of the rest. However, these entities are generating minimal profits, while the others have no profit at all.

Following Artikhodjaev's departure from the Akfa-Artel board in 2019, the company has been under a new management structure. Its current head was the former head of another company controlled by Artikhodjaev. In response to a government initiative in 2017, Tashkent authorities established a new manufacturing company. Texnopark was awarded a $555 million tender to produce gas meters for the Uzbek market.

In November, Artykhodjaev issued a decree capping compensation at 18 billion soums. He refused to provide an alternative location for the factory. He also refused to compensate Altromark after claiming that the award had violated laws. The company has subsequently appealed this case to the city authorities. However, a judge is expected to make a final decision soon.