Tashkent, Uzbekistan (UzDaily.uz) — International consulting firm McKinsey & Company plans to expand its operations in Central Asia, with a particular focus on growing its business in Uzbekistan.
As part of this effort, the company's Global Managing Partner, Bob Sternfels, visited Tashkent.
McKinsey has been working with public, private and civil society organisations across Central Asia since 2013.
During this period, the company has built a regional team combining knowledge of local markets with McKinsey's international expertise, which spans more than 65 countries.
During the visit, Sternfels and the company's regional leaders met with government officials, business representatives, clients and employees. They discussed Uzbekistan's development prospects, including opportunities in mining, energy, financial services and digital infrastructure. Particular attention was given to the development of skilled professionals.
Sternfels said Uzbekistan was among the economies undergoing the most extensive transformation. He noted the company's interest in further expanding its operations in the country, strengthening its local team and developing future McKinsey leaders in Tashkent.
Responsibility for leading McKinsey's operations in Uzbekistan has been assigned to the company's Senior Partner, Semen Yakovlev. Based in Tashkent, he will oversee the strategic development of the business and the delivery of client projects.
Yakovlev has more than 20 years of experience working in South Korea, China, Japan and Southeast Asia. Before his appointment, he led McKinsey's Asia Strategy and Corporate Finance practice.
Partners Dulatbek Ikbaev and Yermolai Solzhenitsyn will also contribute to the company's business development in Uzbekistan. Ikbaev has spent more than a decade advising government bodies, financial institutions and major companies across Central Asia on transformation and socio-economic development.
Solzhenitsyn, a McKinsey Senior Partner, has more than 20 years of experience delivering strategy and transformation projects in the metals, mining, energy and transport industries.
Yakovlev said the company intended to focus particularly on the professional development of young specialists and continue working with leading companies in Uzbekistan. He added that the country's young and growing population created additional opportunities for economic and social development.
McKinsey's priorities in Uzbekistan include advanced technologies and artificial intelligence. The company plans to draw on the expertise of its QuantumBlack, AI by McKinsey division in this area.
Another focus will be the development of professional skills in response to changing labour market requirements. In particular, the company intends to continue implementing its global Forward education programme.
According to McKinsey, more than 1,500 young professionals from Central Asia and around 290,000 people worldwide have completed the programme. Participants acquire practical skills that are in demand in today's labour market.
