Uzbekistan and UAE Sign 15 Investment Agreements to Boost Bilateral Cooperation
During the recent visit of Uzbekistan’s President Shavkat Mirziyoyev to the United Arab Emirates, a series of new agreements were signed between officials and business leaders from both countries. These agreements are aimed at further strengthening trade, economic, and investment cooperation between Uzbekistan and the UAE.
According to the press service of the Ministry of Investment, Industry, and Trade, bilateral trade turnover between Uzbekistan and the UAE had reached $650 million by the end of 2024. Currently, 337 enterprises with Emirati investment are operating in Uzbekistan, including 114 joint ventures and 223 subsidiaries of foreign companies.
The investment volumes between the two countries grew by nearly 40% in the past year, exceeding $1.5 billion. Projects are ongoing in various sectors such as energy (with a focus on green energy), chemical industry, geology, transportation and logistics, and information technology.
The Uzbekistan-UAE Investment Company has a portfolio of 7 projects valued at $192.5 million, covering healthcare, mining, agriculture, and tourism. Additionally, 9 initiatives totaling $140 million are currently in development.
During the meeting in Abu Dhabi, 15 new agreements and contracts were signed with well-known companies like AMEA Power, Masdar, Solar Power Shine, M42, Burjeel Holdings, IFFCO, TWS, Alserkal Group, Metito, AD Ports, Jetex, Emirates Group, and others. These agreements cover sectors such as energy, agriculture, water supply, infrastructure, and transportation and logistics.
Of particular note is the agreement with Jetex for the development of Tashkent-East Airport and the provision of business aviation services. This further solidifies the growing partnership between Uzbekistan and the UAE and highlights the potential for future collaboration in various sectors.
