Khazanah Nasional Berhad Interested in Privatization Projects in Uzbekistan
Uzbekistan and Malaysia Explore Collaboration Opportunities in Investment and Development
Diplomatic representatives from Uzbekistan recently engaged in discussions with Amirul Feisal, the CEO of Malaysia’s sovereign wealth fund, Khazanah Nasional Berhad, in Kuala Lumpur. The primary focus of the meeting was to explore potential avenues for cooperation between the two countries, particularly in financing investment funds, e-commerce startups, and retail networks within Uzbekistan.
One of the key outcomes of the meeting was the consideration of establishing a joint investment company between the Reconstruction and Development Fund of Uzbekistan and Khazanah Nasional Berhad. Both parties expressed mutual interest in this initiative, highlighting the potential benefits it could bring to their respective economies.
To further progress this collaboration, the formation of a joint working group was proposed. This group would be tasked with developing specific terms for cooperation, facilitating ongoing dialogue on investment opportunities and strategies for mutual benefit.
Uzbekistan’s Ambassador, Karomidin Gadoyev, praised the experience and capabilities of Khazanah Nasional Berhad and extended an invitation for the Malaysian fund to participate in Uzbekistan’s state privatization projects. He also encouraged Khazanah to consider acquiring equity stakes available for bidding on the international market.
In addition to discussing potential investment partnerships, the Uzbek delegation presented various project proposals for development in Uzbekistan. These projects included a residential complex in the “New Tashkent” area, a tourist and recreational zone, a wellness center in the Tashkent region, and a regenerative medical center in the capital.
The Malaysian representatives expressed their appreciation for the investment opportunities in Central Asia, signaling their readiness to explore direct financing options for projects in the region, particularly in Uzbekistan.
Khazanah Nasional Berhad, established in 1993 as a public limited company under Malaysia’s Ministry of Finance, is one of Southeast Asia’s largest investment funds. With total assets of $20.8 billion as of 2023, the fund operates regional offices in the United States, Turkey, China, the United Kingdom, and India. This potential collaboration between Uzbekistan and Malaysia holds promise for advancing economic development and investment opportunities in both nations.
