In the context of enhancing existing cooperation between the two countries, the State of Qatar participated in the 2nd Tashkent International Investment Forum which was held for two days last April, and its delegation was headed by HE Undersecretary of the Ministry of Commerce and Industry Sultan bin Rashid Al Khater.
On the sidelines of the forum, HE President of Uzbekistan Shavkat Mirziyoyev and HE Minister of Investment, Industry and Trade of Uzbekistan Laziz Kudratov met with HE Sultan bin Rashid Al Khater. Dyring the two meetings, they discussed topics of shared interest to boost cooperation between the two countries in trade, investment and industry sectors, in addition to sharing viewpoints on the topics incorporated into the forum’s agenda.
During the two meetings, HE Sultan bin Rashid Al Khater highlighted the successful economic policies laid out by the State of Qatar to support private sector, outlining the incentives, legislations and promising opportunities available in Qatar which aim to encourage investors, businessmen and business owners to invest in the State of Qatar.
In his speech before the forum, HE President of the Republic of Uzbekistan said that the economic reforms carried out by his country enhanced its stature as a country that has a highest economic diversification in Central Asia, adding that foreign investors will find everything required by business sector, in terms of peace, stability and reliable assurances. He pointed out that a roughly 100,000 new companies have been established during one year in Uzbekistan, while annual size of foreign investment reached USD 10 billion, or tippled like what it was in 2017.
He said that, with the support of foreign investors, thousands of modern companies were established, adding that mega projects were implemented creating thousands of high-paying jobs. He pointed out that since the implementation of reforms to optimize the business environment in Uzbekistan, nearly one million people were lifted out of poverty, affirming that his country has accelerated the measures of its accession to the World Trade Organization (WTO).
Uzbekistan is a landlocked Islamic republic located in Central Asia, with an area of 448,900 sq km and a population of over 36 million, occupying a prominent place that makes it a crucial gate for a market that includes over 300 million consumers. Previously, Uzbekistan’s economy has been primarily depending on commodities exports, especially cotton, gold, gas and oil, however, the vision of the country’s president for future intends to plan for much more diversity.
Uzbekistan has very high potential in the renewable energy sector, especially solar and wind energy, and has signed 21 agreements during the past five years with international companies to build solar and wind energy plants at a cost of more than USD 9 billion.
Global investments in Uzbekistan grew ten times in the past six years, while the wide-ranging reforms by the government that commenced in 2017 led to the economy’s openness and had subsequently attracted foreign capital while the number of investors pivoting towards Uzbekistan is increasing.
Uzbekistan’s economy has been one of the best global economies, in terms of performance in the recent years. It ranks second among the largest economies in the Central Asian region, as public investment, natural gas, gold and cotton exports constitute the key driving force for the economic growth. The economic success achieved by the reforms undertaken there made it possible to strengthen the social protection of citizens, deepen the fight against poverty, significantly reduce the unemployment rate, raise the incomes of the population, improve the quality of medical and educational services, and improve peoples living conditions. To continue the ongoing reforms in all areas, the “Strategy for the Development of New Uzbekistan in 2022-2026” has been predetermined. Given its tourism and cultural potential, Uzbekistan will host on Oct. 16 the 25th Session of the General Assembly of the United Nations World Tourism Organization (UNWTO) for the first time in its history, with the participation of delegates from about 159 countries. (QNA)
Source: Qatar News Agency