The President of Uzbekistan called for expanding practical cooperation with Japanese businesses

As part of his official visit to Japan, President of the Republic of Uzbekistan Shavkat Mirziyoyev met with the heads of leading companies, financial institutions, and business associations in the country, the press service of the head of our state reports.

The event was attended by Japanese Minister of Economy, Trade, and Industry Ryosei Akazawa, as well as top managers from major corporations and companies, financial institutions, and banks, including Sojitz, Sumitomo, Toyota, ITOCHU, Mitsubishi, Marubeni, Daito Trust Construction, NEC, SBI Holdings, Ajinomoto, Japan Tobacco, Hitachi, Mitsui, Balcom, NEC, Eurus Energy, Chubu Electric Power, Shikoku Electric, Shimizu, Hankyu Travel International, Japan Metals and Energy Security Organization (JOGMEC), Japan Bank for International Cooperation (JBIC), Japan International Cooperation Agency (JICA), Japan Export and Investment Insurance Company (NEXI), Japan External Trade Organization (JETRO), Japan Association for Trade with the Commonwealth of Independent States (ROTOBO), Norinchukin Bank, SBI Shinsei, the Japan Association of Travel Agencies, and others.

Addressing the meeting participants, the head of state noted that such a representative presence of Japanese business is clear evidence of the high level of mutual trust and the parties’ sustained interest in further developing their economic partnership.

It is worth noting that cooperation between Uzbekistan and Japan has acquired a qualitatively new character in recent years.

While previously Japanese companies primarily participated in contracting projects, today they are actively investing in the country’s economy, establishing joint ventures, participating in management, transferring technology, and contributing to the training of national personnel.

As a result of these qualitative changes, Japan has become one of Uzbekistan’s key economic and technological partners.

The positive dynamics are also reflected in trade and economic indicators: over the past eight years, trade turnover has doubled, and the number of Japanese companies operating in Uzbekistan has increased tenfold.

Strong cooperation has been established in energy, healthcare, geology, information technology, infrastructure, and other priority areas.

During the meeting, the President highlighted key benchmarks for the country’s socioeconomic development. It was noted that Uzbekistan’s gross domestic product has doubled over the past eight years. The goal is to achieve upper-middle-income status by 2030.

The head of state invited Japanese businesses to actively participate in Uzbekistan’s economic modernization efforts, aimed at accelerating industrialization, introducing advanced technologies, increasing productivity, and expanding export opportunities.

In this context, priority areas for further cooperation with Japanese business circles were identified.

These include ensuring energy sustainability and a green transition, including the development of renewable energy sources and storage systems, as well as reducing the carbon intensity of the economy.

Special attention was given to the deep processing of critical minerals, creating a complete value chain.

Promising areas also include the development of mechanical engineering and industrial equipment, as well as the formation of a modern, high-tech industrial economy.

Particular emphasis was placed on the development of information technology, including the implementation of programs in the field of artificial intelligence and digitalization.

Another important area identified is the creation of modern special economic zones, which are intended to become hubs for high-tech and export-oriented manufacturing, as well as industrial cooperation through the automation of production processes and the implementation of digital management systems.

For example, with the assistance of JICA, a project to create a special economic zone based on the Japanese model and standards is being developed.

In conclusion, the head of state emphasized that Uzbekistan views Japan not only as an investor but also as a strategic partner in building the industry of the future.

In turn, representatives of Japanese business expressed their commitment to expanding their presence in Uzbekistan and announced plans to participate in joint projects in priority areas.

Following the meeting, a ceremony to exchange bilateral agreements was held in the presence of Uzbek President Shavkat Mirziyoyev and Minister Ryosei Akazawa.