Uzbekistan - Singapore: prospects for expanding trade, economic and investment cooperation discussed

    Investments 27 September 2024 2007

    On September 26, Minister of Investment, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov held a meeting in Samarkand with the Minister in the Office of the Prime Minister, Second Minister of Finance and National Development of Singapore Indrani Raja.

    During the conversation, the role of the Asian Infrastructure Investment Bank, which is an important platform in promoting regional cooperation and economic growth, was emphasized. The Uzbek side expressed interest in deepening cooperation with the AIIB and with Singapore, as one of the founding members of the Bank and a country demonstrating commitment to strengthening international economic ties and developing sustainable infrastructure in Asia.

    Prospects for expanding trade, economic and investment cooperation with Singapore were discussed. Over the past seven years, trade has doubled, and the volume of Singapore investments has reached almost $ 1 billion.

    Systematic work has been established on the timely implementation of investment agreements with a total value of 3.9 billion dollars, reached during high-level visits in 2023. These are major projects in the chemical industry, strategic asset management, construction of logistics centers, agriculture and education. MIPT provides targeted support for each project.

    Following the meeting, the parties agreed on the dates of the next Uzbek-Singapore business forum and identified promising areas for the development of cooperation: infrastructure development, smart agriculture, information technology, production of electrical products, healthcare.