17:51 / 10.06.2024

Uzbekistan plans to develop mountain territories based on Turkish experience 

Under President Shavkat Mirziyoyev, plans for economic and investment cooperation between Uzbekistan and Turkey and Saudi Arabia have been reviewed, the press service of the head of state reported.

During the president’s official visit to Turkey last week, following the results of the third meeting of the Uzbek-Turkish Strategic Cooperation Council and a meeting with the heads of companies of the two countries, 158 new projects worth $10.1 billion were formed. These projects cover areas such as industry, energy, mining and geology, transport, healthcare and agriculture.

At the meeting, information was presented on measures that will be taken to develop trade and economic cooperation.

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 “roadmap” 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.

The President gave additional instructions on expanding the portfolio of promising projects with large Turkish companies and developing interregional cooperation.

“Investment cooperation is actively developing with Saudi Arabia, the implementation of a number of large projects has begun, and the investment portfolio is constantly expanding,” the statement reads.

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 funds worth $2.5 billion this year, including $1.5 billion of investments in an additional 13 projects in the fields of transport, digitalization, infrastructure, healthcare and energy.

At the meeting, attention was paid to intensifying the activities of the Uzbek-Saudi Business Council. The importance of completing negotiations and starting 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.

The task has been set to conduct a constant dialogue with investors, create the most favorable conditions for them, and systematically resolve issues that arise during the implementation of projects.

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