The President Shavkat Mirziyoyev began the first day of his official visit to the Arab Republic of Egypt with a meeting with the CEOs of major Egyptian companies.
The event was attended by the Egypt’s Minister of International Cooperation Rania al-Mashat, President of the Federation of Chambers of Commerce Ibrahim Mahmoud al-Arabi, CEOs of Elsewedy Electric, El Araby Group, Orascom Construction, Poliserve Group, Al-Rowad, Lotus Garments Group and others.
During the meeting, Shavkat Mirziyoyev pointed to the huge untapped potential in bilateral ties and great opportunities for building up business ties and contacts, enhancing mutual investment and voosting the trade between Uzbekistan and Egypt.
He commended the upward trend of partnership development in recent years. In particular, the indicators of trade turnover are multiplying, the number of joint projects and enterprises has increased by 6 times.
He highly valued the outcomes of the Uzbek-Egyptian business forum held the day before, as a result of which $1.6 billion worth of 20 deals were inked.
He indicated to the wide opportunities for industrial cooperation in the energy, electrical, chemical, mining, textile, agricultural, pharmaceutical and leather and footwear industries.
“Egyptian companies have all the opportunities for the large investment programs in our country,” Shavkat Mirziyoyev emphasized.
In their remarks, CEOs of leading Egyptian companies highly appreciated the ongoing large-scale reforms in Uzbekistan.
They emphasized the ongoing transformations, the economy liberalization of the and the created favorable investment climate for expanding the presence of Egyptian business in the Uzbek market.
For example, Elsewedy Electric, Egypt's largest producer of electricity, transformers and cable products, is ready for the development of joint projects for the construction of wind and solar power plants, the establishment of the production of transformers, cable and wire products and accessories.
The management of Orascom Construction expressed interest in implementing a project in Uzbekistan to set up an industrial park with the subsequent construction of facilities for the production of paints and varnishes and chemicals for building materials on its territory, as well as the construction of a 100 MW wind farm.
Sharing their vision of further development of bilateral cooperation, major investors in Egypt stressed that they consider our country as a bridge to enter the markets of Central Asia.
President Shavkat Mirziyoyev supported the announced plans and initiatives, instructed the responsible persons from the Uzbek side to ensure strict control over their implementation.
At the end of the meeting, the parties decided to adopt a joint road map to ensure the practical implementation of joint projects and further build up trade and investment cooperation.
