On January 13 Abu Dhabi hosted signing ceremony of 15 bilateral agreements for the implementation of joint projects, prior to the official visit of the President of the Republic of Uzbekistan Sh.M. Mirziyoyev to the United Arab Emirates.
Laziz Kudratov, the Minister of Investment, Industry, and Trade of Uzbekistan, on the Uzbek side, and Suheil Mohamed Al Mazrui, the UAE Minister of Energy and Infrastructure, on the UAE side headed the delegations.
Laziz Kudratov in his welcoming speech highlighted consistent growth of trade, economic, and investment cooperation between Uzbekistan and the UAE, which has become possible due to mutual trust at the highest levels.
Since 2021, mutual trade turnover between the UAE and Uzbekistan has been steadily increasing at an average annual rate of over 20 percent, approaching $650 million by the end of 2024. Currently, 337 enterprises with UAE capital are operating in Uzbekistan, including 114 joint ventures and 223 foreign enterprises. In 2023, $1.08 billion was allocated for the implementation of investment projects, and in 2024, this figure is expected to exceed $1.5 billion.
The projects implemented collaboratively encompass traditional and alternative energy, infrastructure, the chemical industry, geology, information technology, agriculture, transportation, and logistics.
Uzbekistan-Emirates Investment Company has been established, with an investment portfolio currently valued at 200 million dollars. This portfolio includes seven projects totaling 192.5 million dollars in the fields of medicine, geology, agriculture, and tourism. Additionally, there are nine projects for 140 million dollars under development.
Investment agreements and contracts were signed with AMEA Power, Masdar, Solar Power Shine, M42, Burjeel Holdings, IFFCO Group, TWS, Alserkal Group, Metito, AD Ports, Jetex, Emirates Group, and various other companies across the sectors of energy, healthcare, agriculture, infrastructure development, water supply, transportation, and logistics.
Source: Press office of the Ministry of Investment, Industry, and Trade of the Republic of Uzbekistan
