Uzbekistan and Egypt: new agreements and projects

The second day of the visit of the government delegation of Uzbekistan to the Arab Republic of Egypt was also full of negotiations, the press service of the MIIT reported. Thus, the Minister of Investments, Industry and Trade Laziz Kudratov held a number of meetings with the heads of leading Egyptian companies, during which issues of implementing joint projects and developing bilateral cooperation were considered.

In particular, with the General Director of the ElAraby Group, Muhamed Mahmoud El-Arabi, the prospects for creating a production of household appliances were discussed (the company owns 26 factories producing over 1,000 types of household appliances under the Japanese brands Sony, Toshiba, Sharp, Hitachi and NEC. Export geography – 60 countries of the world Assets – 6 billion dollars). As a result of the negotiations, an agreement was reached to start developing a project for the production of household appliances.

At the meeting with the President of Orascom Investment Holding Amjad Sabri, issues of implementing joint projects in the field of geology, tourism and agriculture were considered (Egypt’s largest investment company specializes in the construction of infrastructure projects and sugar production. It owns 35 hotels in 12 countries of the world. Assets – $ 10 billion.). The issue of creating a joint working group for the preparation of projects in the mining and food industries, as well as for the construction of hotel complexes, was agreed upon.

Negotiations with Orascom Construction continued on the second day of the visit (he has 70 years of experience in the fields of traditional and renewable electricity production, building materials, recycling and water management). This time, in addition to the previously reached agreements, new project ideas were discussed with the president of this company, Omar Bebars. Thus, the Egyptian side expressed interest in creating an industrial park in Uzbekistan with the subsequent implementation on its territory of capacities for the production of paints and varnishes, chemicals for building materials, as well as attracting industrial enterprises – the company’s partners to develop new investment projects.

At the meeting with Poliserve Chairman Sherif Mustafa El-Gabali, issues of developing cooperation in the field of the chemical industry (it is the largest producer and supplier of chemical fertilizers to African countries) were considered. The parties analyzed the prospects for the company’s participation in the implementation of major projects in Uzbekistan.

Opportunities for the development of industrial cooperation in the pharmaceutical industry were discussed with ACDIMA Chairman Olfat Ghorab (it is the largest pharmaceutical manufacturer in Egypt. It produces more than 1,000 types of pharmaceutical products. Export geography includes 60 countries of the world). An agreement was reached on organizing the production of medicines on the territory of the pharmaceutical cluster “Tashkent Pharma Park”.

The implementation of joint projects in the textile industry was discussed in detail with the CEO of Cottonil Meram Gabr (the company is Egypt’s largest manufacturer of home textiles, underwear and hosiery. It manufactures products for international brands Zara, Calvin Klein, Hugo Boss, etc.). Following the presentation of the investment potential of Uzbekistan and the discussion of opportunities for industrial cooperation, the issue of organizing a joint production of finished textile products in the Kashkadarya region was agreed.

The unifying feature of the talks was the constructive nature and readiness of the parties to take concrete measures to increase cooperation and accelerate the implementation of the agreements reached.