Tashkent (TDI): At a business forum dedicated to strengthening economic ties between Uzbekistan and Kuwait, Deputy Minister of Investment, Industry, and Trade of Uzbekistan, Akram Aliyev, highlighted the importance of partnerships with Kuwaiti businessmen, particularly in the sectors of healthcare, agriculture, and tourism.
The forum, held in Tashkent, centered on exploring prospects for collaborative projects in key areas such as mining, energy, textiles, and logistics.
During the discussions, significant proposals emerged for Kuwaiti investors to engage in the privatization program of over 1,000 state-owned companies in Uzbekistan, according to media reports.
Additionally, the forum underscored the need to enhance logistics infrastructure to transform Central Asia into an international trade hub.
Aliyev noted that the privatization initiative presents a unique opportunity for Kuwaiti businesses to invest in Uzbekistan’s growing economy and contribute to the nation’s development goals.
“We are eager to welcome Kuwaiti companies to explore the vast investment potential in our country,” he stated, emphasizing the mutual benefits that could arise from such partnerships.
Uzbekistan-Kuwait Cooperation
Recent years have witnessed several key developments in Uzbekistan-Kuwait cooperation.
In August, an investment and trade forum hosted by Kuwait brought together business leaders and ministry representatives from both countries, where Uzbek Foreign Minister Bakhtiyor Saidov urged Kuwaiti investors to explore opportunities in agriculture, light industry, medical products, and renewable energy.
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The foreign ministers of both nations met again in New York in September 2024, where they discussed additional steps to strengthen bilateral cooperation.
These discussions included the establishment of joint trade committees and initiatives aimed at improving logistics and infrastructure within Uzbekistan.
Uzbekistan’s ongoing reforms and efforts to create a favorable business environment, along with its strategic geographic location, make it an attractive destination for foreign investors.
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The government aims to diversify its economy and enhance its competitiveness in the region, and partnerships with Kuwaiti companies could play a pivotal role in achieving these objectives.
As both countries continue to foster their economic relationship, the potential for Kuwaiti investment in Uzbekistan’s privatization efforts and infrastructure development remains promising, paving the way for a more integrated and dynamic regional economy.
