Cooperation between the governments of the UAE and Uzbekistan to enhance investment and cooperation in the mining sector
Abu Dhabi, January 20 / WAM / The Government of the United Arab Emirates, represented by the Ministry of Investment, and the Government of the Republic of Uzbekistan, signed a memorandum of understanding aimed at supporting the development of the mining sector in Uzbekistan in a way that contributes to enhancing its sustainable growth, modernization, and creating long-term economic value.
The memorandum was signed in Abu Dhabi by His Excellency Muhammad Hassan Al Suwaidi, Minister of Investment, and His Excellency Jamshid Khojayev, Deputy Prime Minister of the Republic of Uzbekistan.
Under the memorandum of understanding, cooperation will include investment activities extending across the entire value chain of the mining sector, starting from prospecting, exploration, and development activities, all the way to manufacturing in the later stages.
The memorandum also establishes a framework for cooperation between government and regulatory agencies, state-owned investment companies, and private sector institutions, through investment institutions and entities specialized in the sector.
It aims to support the identification of promising investment opportunities, and the development of financing and investment structures, including foreign direct investment and partnerships between the public and private sectors, in addition to enhancing the exchange of technical expertise, mobilizing capital, and employing advanced technologies, in a way that contributes to raising productivity and enhancing global competitiveness.
The memorandum also gives priority to developing and modernizing the infrastructure supporting the sector, including power generation, renewable energy solutions, modernizing electricity networks, water systems, transportation networks and logistics services.
The memorandum encourages the digitization of the sector, promoting innovation, and applying the best responsible governance practices, in a way that supports resilience and sustainability in the long term.
His Excellency Mohammed Hassan Al Suwaidi said that the UAE and the Republic of Uzbekistan share strong relations based on mutual trust and growing economic cooperation. He added that today’s signing of the memorandum of understanding embodies the UAE’s commitment to strengthening strategic international partnerships in sectors of common priority, in a way that supports sustainable development and contributes to creating long-term economic value.
He explained that through this close cooperation with Uzbekistan, we are working to open qualitative investment horizons across the entire value chain of the mining sector, in a way that achieves common interests and benefits both countries.
For his part, His Excellency Jamshid Khojayev said that this memorandum represents an important step in strengthening cooperation between Uzbekistan and the UAE in the minerals sector, and that through joint work in the areas of investment facilitation, governance, competency development, and follow-up frameworks, we aim to support responsible and sustainable development of the minerals sector, and create long-term industrial growth opportunities for both economies.
Economic relations between the UAE and the Republic of Uzbekistan are witnessing rapid growth, driven by strong momentum in bilateral investments.
UAE investments in Uzbekistan amounted to approximately 1.3 billion US dollars in 2024, including approximately 700 million US dollars in renewable energy projects, while the value of joint projects currently under development exceeds 4 billion US dollars.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Related
