Mirziyoyev met with Egyptian businessmen. Does he want to build a partnership with Egypt to solve energy problems?

On the first day of his official visit to the Arab Republic of Egypt, the President of the Republic of Uzbekistan Shavkat Mirziyoyev met with the heads of leading companies of this country.

On behalf of Egypt, Minister of International Cooperation Rania al-Mashat, President of the Federation of Chambers of Commerce Ibrahim Mahmoud al-Arabiy, “Elsewedy Electric”, “El Araby Group”, “Orascom Construction”, “Poliserve Group”, “Al-Rowad” participated in the event.  Leaders of large companies such as “Lotus Garments Group” also took part.

At the meeting, it was noted that there are great opportunities to expand business and entrepreneurship relations, to activate mutual investments between Uzbekistan and Egypt, and to increase trade.

Mirziyoyev pointed out that the joint efforts of the business circles of the two countries play an important role in the restoration of strong bridges of cooperation, such as the Great Silk Road, which flourished in the past.

At the meeting, it was noted that the indicators of trade between the two countries have increased, the number of joint projects and enterprises has increased 6 times.

He highly appreciated the fact that concrete agreements were reached on the implementation of more than 20 deals and contracts worth 6 billion dollars.

It was noted that there are ample opportunities for industrial cooperation in the energy, electrical engineering, chemical, mining, textile, agricultural, pharmaceutical, and leather-footwear sectors.

“Egyptian companies have all opportunities to jointly implement large investment programs in our country,” said Shavkat Mirziyoyev.

In turn, representatives of leading Egyptian companies highly appreciated the large-scale reforms being implemented in New Uzbekistan.

It was noted that the ongoing reforms, the liberalization of the economy and the creation of a favorable investment environment open up great opportunities for the Egyptian business to expand its activities in the market of Uzbekistan.

For example, the largest company in Egypt for the production of electricity, transformers and cable products expressed its readiness to develop joint projects for the construction of wind and solar power plants in Uzbekistan, the production of transformers and cable-wire products.

“Orascom Construction” announced that it is interested in creating an industrial park in Uzbekistan, establishing production facilities for lacquer products and chemicals for construction materials, as well as building a 100 MW wind power plant.

President Shavkat Mirziyoyev supported the stated plans and initiatives and instructed the officials of the Uzbek side to ensure strict control over the implementation of the proposed projects.

At the end of the meeting, it was decided to adopt a joint “road map” for the implementation of joint projects and further expansion of trade and investment cooperation.