Ovik Mkrtchyan on Integrating Green Thinking into Emerging Economies

The world’s waste recycling market is already worth many billions of dollars a year globally and is growing quickly. 

That growth is being fuelled by increasing awareness of environmental issues and a clear and urgent need for industries, companies and entire countries to reduce their use of natural resources and to bring down their carbon emission contributions wherever possible. 

This awareness — alongside strengthened regulatory frameworks impacting industrial activity — is driving up demand for waste recycling solutions across many regions, including in the hazardous waste disposal market, where growing public concern over air, water, and soil pollution has led to tighter controls and stricter handling requirements.

Among those who see the sector not just as a challenge but as an opportunity is investor and development strategist Ovik Mkrtchyan, known for his long-standing focus on sustainability, education, and inclusive growth across Central Asia and beyond.

“Waste is no longer a by-product — it’s a frontier,” says Ovik Mkrtchyan. “Recycling is becoming a platform for innovation, and the most forward-thinking economies are treating it as infrastructure for the future.”

Balancing Considerations

Despite the global emphasis on sustainability, governments remain cautious not to restrict industrial growth. But increasingly, they are being called upon to embed environmental responsibility into broader economic agendas — and to invest in green innovation that supports long-term resilience.

A good example here is Uzbekistan, where the industrial sector has gained notable momentum in recent years. Indeed, from 2017 to 2024, industrial production in the country rose by over 50%, with the sector’s share of GDP increasing from 22.2% to 26.4%. Backed by reforms and supported by the World Bank, Uzbekistan is now positioning itself convincingly as a regional hub for clean production and circular economy innovation.

Demands for Innovation

Against that backdrop, internationally, in Central Asia and in Uzbekistan specifically, there are significant developments taking place within the waste management space, not least with respect to the recycling of hazardous substances. 

Within that particular field, a company called Ecotech has been able to make some notable strides forward through an emphasis on innovation and a pioneering approach to the science underpinning the sector. 

In essence, Ecotech’s solutions enable the safe transformation of toxic industrial by-products into useful materials for secondary industrial use — helping reduce both environmental risk and dependence on natural resources or raw materials.

“Where waste can be made safe and reused, the benefits are immediate — for the environment, for the economy, and for the climate,” explains Ovik Mkrtchyan. “That’s the model we need to scale.”

Ecotech is among several pioneering projects aligned with Ovik Mkrtchyan’s broader vision of investing in high-impact innovation that addresses long-term environmental challenges. He has consistently supported initiatives that merge industrial progress with social and ecological responsibility. His strategic philosophy emphasizes building ecosystems — not just enterprises — and ensuring that innovation serves people, not just markets.

Demand for recycled materials is on the up globally, given the extent of concerns about environmental sustainability and climate change. That demand is in evidence both among consumers and among businesses, who are increasingly encountering regulations that demand they take such issues more seriously and consider them routinely as a matter of fundamental importance. 

Hence why markets for recycled products — as well as providers of waste management or hazardous waste recycling services — are growing so swiftly, and why there is so much potential for further expansion in those contexts.

Waste as a Strategic Industry

The transformation of waste recycling from a peripheral concern into a core industrial priority signals a broader rethinking of development strategy. In Central Asia, where economies are undergoing rapid industrialization alongside environmental reform, the waste sector is emerging not just as a technical necessity, but as a pillar of sustainable growth.

Uzbekistan’s recent trajectory — marked by consistent industrial expansion, targeted policy reform, and openness to innovation — illustrates how waste recycling can evolve into an important strategic industry. It bridges environmental objectives with economic goals, enabling countries to reduce dependence on raw materials, lower emissions, and create new industrial value chains.

As global demand for circular solutions accelerates, Central Asia can position itself not merely as an adopter, but as a contributor to the next phase of industrial evolution — one where resource efficiency, environmental resilience, and economic competitiveness are fundamentally intertwined.

“For emerging economies in the region, and elsewhere, embedding ‘green thinking’ into strategic economic plans makes sense on many levels,” says Ovik Mkrtchyan.

“There are major opportunities for companies and innovators to make lasting, positive impacts — both on the evolution of specific industries and on how entire countries advance toward true environmental sustainability.”