Uzbekistan and UAE have announced the implementation of 15 joint investment projects worth $5 billion. Bilateral cooperation issues were on the agenda of negotiations between Uzbek Deputy PM, Minister of Investment and Foreign Trade, Sardor Umurzakov, and the Minister of Economy of the United Arab Emirates, Abdullah bin Tuk al-Marri.
The parties considered opportunities for attracting Emirati investors to participate in the state privatization program underway in Uzbekistan.
An agreement was reached to establish direct cooperation between the Ministry of Food and Water Security of the UAE and the Ministry of Agriculture of Uzbekistan to explore the possibilities of implementing joint programs and projects in agriculture and the food industry.
They also noted the successful activity of the Uzbek-Emirati Investment Company, which was established with the support of the Abu Dhabi Development Fund. The company has so far channeled over $100 million towards the implementation of joint investment projects in Uzbekistan. The Emirati side expressed its readiness to assist in attracting new potential partners from among Emirati investors in order to implement promising projects with their co-financing at the expense of the resources of the Uzbek-Emirati Investment Company. (Uzreport/Business World Magazine)