BAKU, Azerbaijan, May 29. A number of companies engaged in various sectors from a number of countries are eager to explore investment opportunities of Uzbekistan, Trend reports.
"Uzbekistan is currently experiencing a surge in consumer demand, and the potential for market expansion is immense. Furthermore, our country is emerging as a significant player in the Central Asian region, particularly in terms of transit opportunities. Notably, the ongoing construction projects of the Uzbekistan-Kyrgyzstan-China and the Uzbekistan-Afghanistan-Pakistan railways open avenues for accessing additional markets in the surrounding area," Jurabek Mirzamakhmudov, Uzbek Energy Minister, said.
As he explained, Uzbekistan offers a stable legislative framework along with incentives for both small industrial zones and free economic zones, as well as for large-scale projects.
"Most importantly, the President himself, serving as the guardian of the constitution and ensuring stability, spearheads all the ongoing reforms and transformations. We have compelling propositions to offer investors, and we are fully prepared to embark on new partnerships," Mirzamakhmudov added.
The minister noted that, currently, Uzbekistan actively engages with investors in various sectors. Notably, renewable energy projects, technology initiatives, and the oil-field services sector have attracted significant investor interest. Our partners come from diverse regions, including Saudi Arabia (ACWA Power), the UAE (Masdar, TAQA), France (EDF, TotalEnergies), and Germany (Siemens Energy).
'We have recently held negotiations with Mubadala from the UAE, which is exploring investment opportunities in our country. Chinese companies are investing in the development of new power generation facilities and distribution networks. Turkish companies have already invested in power generation and express their willingness to participate in future projects. We have also received proposals from them regarding distribution networks and gas transmission systems for private operators. Notably, Elsewedy, one of Egypt's largest companies, is prepared to invest in both renewable energy sources and production. Furthermore, companies from India and Qatar have expressed their interest in our market, showcasing the expanding scope of potential partnerships," the minister added.