Uzbekistan presented investment potential in Wales

In the capital of Wales, the Embassy of Uzbekistan held meetings and a business forum with the aim of further intensifying trade and investment cooperation with the regions of Great Britain, the correspondent of ‘‘Dunyo’’ news agency reports.

The business forum was attended by the heads and representatives of the Development Bank of Wales, the Organization for Educational Cooperation (WEPco), the Chamber of Commerce, as well as a number of large companies in the region, in particular, ‘‘United Concrete Canvas’’, ‘‘Deploy’’, ‘‘KPX Entertainment Technology’’, ‘‘Capital Law’’ and others.

During the event, the British side was presented with information on large-scale reforms carried out in Uzbekistan, including measures taken to support the development of the national economy.

In addition, presentations were made of specific investment projects in the republic in the fields of renewable energy, chemical industry, metallurgy, electrical engineering, pharmaceuticals, food industry and education.

The participants emphasized that in recent years the investment climate in Uzbekistan has significantly improved, and the interest of international companies in doing business in our country is growing. The British side also showed interest in the financial and banking sector, education, environmental protection, and participation in the privatization of large state-owned companies.

Following the meetings and negotiations, agreements were reached on establishing cooperation between the regions of Wales and Uzbekistan, as well as on the development and implementation of specific projects in the above areas.

Wales is one of the four administrative and political regions of the United Kingdom with a population of 3.1 million people. The gross regional product (GRP) is $115.7 billion. The economy is mainly based on the service sector, tourism, agriculture, and industry. Renewable energy sources (including wind and hydropower) are of great importance in Wales. In agriculture, the leading areas are livestock farming and dairy products.

It is worth noting that the city of Cardiff stands out as the main economic center of the region. In recent years, Wales has maintained high rates of economic growth and relatively stable prosperity compared to many regions of the United Kingdom.