TASHKENT, Uzbekistan, February 18. Uzbekistan has expressed support for Kuwaiti Fouad Alghanim & Sons’ plans to construct healthcare and education facilities under a public-private partnership (PPP), Trend reports.
This was confirmed during a meeting between President Shavkat Mirziyoyev and the company’s head, Fadi Haddad, as part of the business agenda of the presidential visit to Kuwait.
The proposed projects aim to enhance Uzbekistan’s healthcare and education infrastructure by attracting private investment and expertise.
Founded in 1965, Fouad Alghanim & Sons operates in various sectors, including automotive manufacturing, construction, energy, oil and gas, trade, shipbuilding, aviation, telecommunications, tourism, and real estate.
On this account, Uzbekistan and Kuwait signed a joint declaration on the development of Uzbek-Kuwaiti relations as a comprehensive partnership.
Regarding ties between these nations, Uzbekistan has recently augmented its political contact with Kuwait. In April 2024, Kuwait's Foreign Minister, Abdullah al-Yahya, was received by Uzbekistan's President, Shavkat Mirziyoyev. In 2024, five rounds of negotiations occurred between the foreign ministers of the two countries. The communication between economic agencies and business sectors has been enhanced. In the previous year, more than 100 Uzbek entrepreneurs traveled to Kuwait City. Two business conferences and "Made in Uzbekistan" exhibitions were conducted in Kuwait in May and August 2024. Business forums were conducted in Uzbekistan, featuring a 31-member delegation from Kuwait. Notable Kuwaiti enterprises, including Gulf Care Gen. Trad. Co., Biomedix Medical Group Co., Mishari Alafasy Perfumes, and Advanced Medical German Co., conducted visits to Uzbekistan. Concerning trade, In the last five years, trade turnover between Uzbekistan and Kuwait has quintupled. Presently, seven companies with Kuwaiti investment are functioning in Uzbekistan. Nonetheless, this does not entirely represent the economic potential of both parties. In 2023, Kuwait's trade in goods and services with other nations totaled $164 billion, whereas Uzbekistan's figure was $63 billion. The 2024 agreement aimed at streamlining trade processes may represent a crucial advancement in enhancing trade dynamics.
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