A delegation from the Republic of Uzbekistan, headed by Deputy Minister of Investment, Industry and Trade visited the UAE

On September 16-18 this year, a delegation from the Republic of Uzbekistan, headed by Deputy Minister of Investment, Industry and Trade of the Republic of Uzbekistan Shokhrukh Gulamov, visited the UAE, the press service of the Ministry reports.

During the visit to Dubai and Abu Dhabi, roadshows and bilateral talks were held with large Emirati private companies and sovereign funds. Meetings were also held with the Minister of Energy and Infrastructure, the leadership of the UAE Ministry of Investment, the Chambers of Commerce and Industry of Abu Dhabi and Dubai.

The practical aspects of large-scale reforms implemented in Uzbekistan to improve the investment climate, reduce the tax burden, abolish customs duties and licensing of a number of activities, legislative protection of investors’ rights were noted.

The results of the work were highlighted, namely: the triple growth of foreign direct investment since 2017, stable 6% economic growth and 8% industrial growth, as well as a doubling of exports. Among the main goals are the increase of GDP to $160 billion with a per capita income of $4,000 and succession to the World Trade Organization.

Presentations of 63 public-private partnership projects worth more than $30 billion and 21 facilities proposed for privatization in priority sectors were also organized during the meetings.

The heads of the Emirati companies expressed great interest and shared their vision and plans for entering the Uzbek market. Specific proposals and directions for joint work were announced.

Following the visit, a number of agreements and arrangements were reached on the participation of Emirati companies in the privatization program and public-private partnership projects.