TASHKENT, Uzbekistan, November 28. Qatar Power International Holding will invest in the construction of a new railway for high-speed trains in Uzbekistan, Trend reports.
The announcement came after a meeting between Uzbekistan's Chairman of the Tourism Committee, Umid Shadiyev, and a Qatari delegation led by Deputy Chairman of the Board of Qatar Power International Holding, Maurice Ghattas.
During the discussion, the team was given thorough information about Uzbekistan's business potential, as well as the state's tourism reforms in recent years.
Participants also discussed luring Qatari investments in the development of Uzbekistan's tourism infrastructure, such as the construction of hotels and a toll highway on the Tashkent-Samarkand route.
Qatar's Power International Holding declared its willingness to invest in the start-up of ammonia and urea manufacturing in Uzbekistan's Navoi region earlier this week.
Moreover, Uzbekistan and Qatari entrepreneurs plan to create a joint fund for financial support of new investment projects.
The new joint projects include the construction of a modern hotel complex in the Bukhara city, a large logistics center, a commercial and residential complex in Tashkent city, the development of high-speed road and railway infrastructure, airport modernization, as well as projects in the fields of energy, metallurgy, textile industry, livestock, and manufacturing of construction materials.
Uzbekistan and Qatar have signed several investment agreements in the fields of the food industry, green energy, and infrastructure development in September 2023 as a result of the meeting between Minister of Foreign Affairs of Uzbekistan Laziz Kudratov and representatives of leading Qatari investment companies.
In contrast to the preceding year, which saw only $40 million in investments in Uzbekistan, this year managed to attract a much larger sum, totaling $450 million.