The UAE participates in the Tashkent International Investment Forum and confirms its commitment to strengthening the economic partnership with Uzbekistan

Tashkent, June 18 / WAM / His Excellency Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Infrastructure, Special Envoy of the Minister of Foreign Affairs to the Republic of Uzbekistan, headed the UAE delegation participating in the work of the Tashkent International Investment Forum, which was launched in the Uzbek capital, Tashkent, during the period from June 16 to 18, under the patronage of His Excellency President Shavkat Mirziyoyev, and with the broad participation of heads of states and governments, senior officials and representatives of governments and institutions. International finance and investment and global companies.

In his opening speech, His Excellency President Shavkat Mirziyoyev stressed that Uzbekistan continues to implement broad economic and legislative reforms to enhance the business environment and attract foreign investments, noting that his country has succeeded in attracting investments exceeding $150 billion in recent years, including $123 billion during the past five years.

He announced the offering of government assets worth $6 billion as part of the privatization program, and the launch of sovereign Islamic sukuks, in addition to plans to raise the contribution of green energy to 54% of total electricity production in the coming years.

He explained that Uzbekistan attaches special importance to renewable energy projects, energy storage, data centers and artificial intelligence, announcing the establishment of a special economic zone for artificial intelligence projects and data centers in the Republic of Uzbekistan, which enjoys tax and customs incentives extending until 2040.

This year, the forum witnessed the participation of more than 7,500 participants representing about 100 countries, including major investors and business leaders, in addition to major international companies whose combined assets amount to about 42 trillion US dollars, equivalent to 38% of the global gross domestic product.

The forum included 79 specialized sessions and workshops and 7 bilateral business forums, including the Emirati-Uzbekistan Business Forum.

On the sidelines of the forum, His Excellency President Shavkat Mirziyoyev received His Excellency Suhail Al Mazrouei and the accompanying Emirati delegation, in the presence of His Excellency Dr. Saeed Matar Al Qamzi, UAE Ambassador to the Republic of Uzbekistan.

His Excellency conveyed to His Excellency the Uzbek President the greetings of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, “may God protect him,” His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, “may God protect him,” and His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President of the UAE, Deputy Prime Minister and Chief of the Presidential Office, and the wishes of the wise leadership of Uzbekistan and its friendly people for further progress and prosperity.

During the meeting, they discussed ways to enhance bilateral relations between the two friendly countries, and follow up on joint projects in the fields of renewable energy, infrastructure, logistics services and investment, which reflects the strength of the strategic relations between the UAE and the Republic of Uzbekistan and the keenness of both sides to advance them to more advanced levels.

During his participation, His Excellency Suhail Al Mazrouei and his accompanying delegation also held bilateral meetings with His Excellency Jamshid Khojayev, Deputy Prime Minister of the Republic of Uzbekistan, His Excellency Liz Kudratov, Minister of Investment, Industry and Trade, and His Excellency Jorabek Mirzamakhmutov, Minister of Energy, with the participation of a number of senior officials, investors and representatives of the governmental and private sectors from the two countries.

During the meetings, opportunities for cooperation and investment were reviewed in the fields of the new economy, technology, artificial intelligence, renewable energy, agriculture, food security, tourism, aviation, infrastructure, the financial and banking sector, transport and logistics services.

During these meetings, His Excellency stressed that the United Arab Emirates is one of the most prominent economic partners of Uzbekistan, stressing the importance of strengthening investment partnerships and developing joint initiatives that support sustainable economic growth, by stimulating the business environment, facilitating procedures and enhancing cooperation between the government and private sectors, which contributes to expanding the horizons of economic, trade and investment cooperation, supports sustainable development efforts and achieves the common interests of the two countries.

The participating Emirati delegation included representatives of a number of government and private entities, including the Ministry of Foreign Affairs, the Ministry of Economy and Tourism, the Ministry of Investment, the Ministry of Energy and Infrastructure, the Ministry of Climate Change and Environment, the Ministry of Foreign Trade, the Abu Dhabi Agriculture and Food Safety Authority, the Abu Dhabi Investment Authority, the Abu Dhabi Ports Group, the Abu Dhabi Future Energy Company (Masdar), the Union Water and Electricity Company, the Abu Dhabi National Energy Company (Taqa), the ENOC Group, and the Dubai Multi Commodities Centre. The Hub71 system, the Abu Dhabi Chamber of Commerce and Industry, the Umm Al Quwain Chamber of Commerce and Industry, the Fujairah Chamber of Commerce and Industry, the First Abu Dhabi Bank, the Abu Dhabi Commercial Bank, the Agthia Group, and the Easa Al Ghurair Investment Group, in addition to a number of leading national and investment companies.

The UAE’s participation in the forum confirms its commitment to strengthening economic and investment cooperation with Central Asian countries, and expanding partnership horizons in strategic sectors, in a way that supports sustainable development efforts and enhances the position of the UAE and the Republic of Uzbekistan as leading economic and investment centers at the regional and international levels.

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter