16:50 / 10.06.2024

Gov’t considers plans for investment cooperation with Turkey and Saudi Arabia

At the meeting chaired by the President, information was presented on measures that will be taken for the further development of trade and economic cooperation.

Photo: Presidential press service

In particular, it is planned to expand the range of goods within the framework of the bilateral Agreement on Preferential Trade, reduce tariffs and duties on textile, leather, footwear, electrical and handicraft products, and open a trade mission of Uzbekistan in Istanbul.

It is also planned to develop a road map for the development of mountainous areas based on Turkish experience, introduce an agricultural insurance system, and open an Uzbek-Turkish Seed Testing Center that meets international standards.

Investment cooperation is also actively developing with Saudi Arabia, the implementation of a number of large projects has begun, and the investment portfolio is constantly expanding. With the participation of companies from the kingdom, a list of 34 investment projects with a total value of $24.1 billion was formed.

As part of these projects, it is planned to disburse $2.5 billion in funds this year, including $1.5 billion in investments in an additional 13 projects in the fields of transport, digitalization, infrastructure, healthcare and energy.

At the meeting, special attention was paid to intensifying the activities of the Uzbek-Saudi Business Council. The importance of completing negotiations and beginning practical work on new promising projects in the field of ecology, the mining industry and financial cooperation with a total value of $6.5 billion, formed within the council, was emphasized.

The President, having familiarized himself with the reports and plans, instructed the responsible persons to take measures for the full and high-quality development of foreign investments and to establish strict control over the implementation of projects.