WNAM MONITORING:President Shavkat Mirziyoyev chaired a meeting to consider further plans for economic and investment cooperation with the Republic of Türkiye and the Kingdom of Saudi Arabia.
Many agreements were reached during the official visit of the Head of state to Türkiye last week.
In particular, following the third meeting of the Uzbekistan – Türkiye Strategic Cooperation Council and a meeting with the heads of leading companies of the two countries, 158 new projects worth $10.1 billion were formed. These projects cover areas such as industry, energy, mining and geology, transport, healthcare, and agriculture.
At the meeting, information was provided on measures to further develop trade and economic cooperation.
In particular, it is planned to expand the range of goods within the framework of the bilateral Agreement on Preferential Trade, reduce tariffs and duties on textile, leather, footwear, electrical, and handicraft products, and open a trade mission of Uzbekistan in Istanbul.
It is also planned to develop a roadmap for the development of mountainous areas based on Turkish experience, introduce an agricultural insurance system, and open the Uzbekistan – Türkiye Seed Testing Center that meets international standards.
The President gave additional instructions on expanding the portfolio of promising projects with large Turkish companies and developing interregional cooperation.
Investment cooperation is also actively developing with Saudi Arabia. The implementation of several large projects has begun, and the investment portfolio is constantly expanding. With the participation of Saudi Arabian companies, a list of 34 investment projects worth $24.1 billion was formed.
As part of these projects, $2.5 billion in funds are planned to be disbursed this year, including $1.5 billion in investments in an additional 13 projects in transport, digitalization, infrastructure, healthcare, and energy.
At the meeting, special attention was paid to intensifying the activities of the Uzbekistan – Saudi Business Council. The importance of completing negotiations and beginning practical work on new promising projects in ecology, the mining industry, and financial cooperation for $6.5 billion formed within the council was emphasized.
The President, becoming familiar with the reports and plans, instructed the responsible persons to take measures for the complete and high-quality development of foreign investments and to establish strict control over the implementation of projects.
The task has been set to conduct a constant dialogue with investors, create the most favorable conditions for them, and systematically resolve issues arising during project implementation.
