23 March 2023

At the business forum dedicated to the investment potential of Uzbekistan in Malaysia, the prospects for bilateral investment cooperation were considered

The Embassy of our country in Kuala Lumpur, together with Eximbank and the Malaysian South-South Association (MASSA), organized a business forum dedicated to the investment potential of Uzbekistan, the correspondent of “Dunyo” news agency reports.

The main objectives of the Malaysian Eximbank are to finance and support the export and import of goods and services, as well as to provide credit lines to finance promising investment projects. In addition, the bank provides export insurance, export financing and foreign investment insurance services. This bank is an entity reporting to the Malaysian Ministry of Finance. The Bank’s clients are large corporations operating in all sectors of the economy, representatives of small and medium businesses, foreign governments and foreign companies.

The Malaysian South-South Association – MASSA was established in 1991 as the result of a successful business mission to Latin America by a delegation led by former Malaysian Prime Minister Mahathir Mohamad. The organization is comprised of Malaysian business people interested in pursuing business opportunities in developing countries and emerging markets.

The business forum was attended by about 80 Malaysian companies and representatives of the business community, as well as representatives of the Malaysian Ministry of International Trade and Industry, the Malaysian Foreign Trade Development Corporation and the Malaysian Investment Promotion Authority.

The event hosted an extended presentation of the trade, economic, investment and tourism potential of Uzbekistan. During the presentation, the Malaysian side was informed about the development strategy of New Uzbekistan for 2022-2026, the ongoing reforms to ensure the rapid development of the national economy and high growth rates, the country’s place in international ratings, and the measures being implemented. to support private business, which is the locomotive of the modern economy, detailed information about the opportunities created for investors and their legal support. Also, the participants of the event were familiarized in detail with the process of the Constitutional reform carried out in Uzbekistan.

During the business forum, the possibilities of attracting Malaysian companies to our country, implementing joint investment projects and exporting Uzbek products to Malaysia were discussed.

As a result of the event, agreements were reached on holding an online meeting between the Eximbank of Malaysia and the Joint Stock Commercial Bank “Microcreditbank” of Uzbekistan to discuss the prospects for mutual cooperation, the participation of the management of the Eximbank of Malaysia in the Tashkent International Investment Forum, which is scheduled for October this year, and the establishment of cooperation relations between the International Trade Association of Small and Medium Enterprises of Malaysia (SME International Trade Association – SMITA) and the Chamber of Commerce and Industry of Uzbekistan.

The parties will also explore the possibilities of producing motor oils and lubricants in our country together with the Malaysian company UMW Holdings, the production of PVC insulation, polyethylene protection and aluminum foil tapes by GTG Manufacturing, and the production of electronic identity cards.