Ways to deepen cooperation between Uzbekistan and the UAE discussed
08/12/2021 09:50
Ways to deepen cooperation between Uzbekistan and the UAE discussed
08/12/2021 09:50
Tashkent, Uzbekistan (UzDaily.com) -- On 7 December, a meeting was held between Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov with Deputy Prime Minister, Minister for President of the UAE Sheikh Mansour bin Zayed al-Nahyan in Abu Dhabi.
During the talks, the sides discussed the current state and prospects for deepening bilateral cooperation in the investment, trade, economic, cultural and humanitarian spheres.
The progress of the implementation of the agreements reached during the visit of the President of the Republic of Uzbekistan to the UAE in March 2019 was considered. The existing issues and mechanisms of further interaction to solve the assigned tasks were considered.
Discussing the issues of investment cooperation, the parties noted the high dynamics of increasing the volume of Emirati investments attracted to the economy of Uzbekistan and the successes achieved by Emirati companies in the implementation of projects. So, in particular, the Masdar company in August this year put into operation the first solar power plant in Uzbekistan, and is currently the winner of tenders for the construction of three new solar power plants: Sherabad FES with a capacity of 457 MW, Samarkand FES with a capacity of 220 MW, as well as Jizzakh FES. with a capacity of 220 MW. The total portfolio of Masdar projects in Uzbekistan at the moment is more than $ 2 billion, the total generating capacity of the power plants under construction is 2.5 GW.
The successful cooperation with the Abu Dhabi Development Fund was also separately noted: the program to support small and medium-sized businesses in Uzbekistan and projects in the field of education are being successfully implemented. The joint investment company created jointly with the Fund is actively operating: major projects in the field of tourism are being implemented, and a portfolio of 14 promising investment projects totaling $ 500 million is being worked out.
During the dialogue, priority areas for the further expansion of investment cooperation were identified, including energy, agriculture, financial sector, infrastructure development and healthcare.
Following the meeting, the parties expressed their commitment to further strengthening bilateral relations, diversifying trade and investment cooperation and attracting new investors to the implementation of projects in Uzbekistan from among the leading UAE companies, which will make it possible to fully use the existing potential of economic partnership between the two countries.
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