Tribune news network
doha
The Qatari Businessmen Association (QBA) received a delegation from the Republic of Uzbekistan headed by Laziz Kudratov, Minister of Investment, Industry and Trade.
The delegation also included about 20 officials, including the Deputy Minister of Health, the Deputy Minister of Transportation, and a number of governorate deputies and government institutions.
The delegation was received by Sheikh Faisal bin Qassim Al Thani, QBA Chairman, and the meeting was also attended by QBA Board member Sheikh Nawaf bin Nasser Al Thani, and QBA members Sheikh Mohammed bin Faisal Al Thani, Salah Al Jaidah, Abdul Salam Issa Abu Iss, Maqbool Habib Khalfan, Yousef Al Mahmoud, and Muhammad Altaf along with Sarah Abdallah, QBA Deputy GM.
At the beginning of the meeting, Sheikh Faisal stated that since the visit of the Amir HH Sheikh Tamim bin Hamad Al Thani last year to Uzbekistan, which was an important step towards establishing a new phase of joint economic and trade cooperation between the two countries, joint work and coordination has increased between Doha and Tashkent to encourage the private sector on both sides to launch investment projects, which contributes to increasing the volume of trade exchange and supports bilateral relations.
Sheikh Faisal said the QBA encourages Qatari businessmen to explore the investment climate in Uzbekistan and invest in potential opportunities, especially in the sectors of agriculture, mining, energy, and others.
He also stressed out the importance of strengthening cooperation between Qatari and Uzbek companies and establishing trade and investment alliances that contribute to enhancing trade exchange between the two countries, which is still modest and below the level of ambitions.
There are Qatari investment projects in Uzbekistan, including Nebras Energy Company projects, an investment project by Barzan Company, and there are 6 Uzbek companies operating in the Qatari market with joint capital.
For his part, the Uzbek minister of investment praised the distinguished relations between his country and Qatar and their keenness to strengthen the ties in various fields, stressing out the need to intensify the Qatari-Uzbek business forums in Tashkent and Doha, to present investment opportunities and discuss the different means to increase trade cooperation between the two
countries.
During the meeting, Kudratov reviewed the investment climate in Uzbekistan and the positive developments that the Uzbek economy has witnessed in recent years, pointing out that many major companies from various countries of the world have begun to come to Uzbekistan and invest in various sectors, with direct investments reaching about 22.4 billion dollars in 2023.
The minister also reviewed his country’s vision for the year 2030, which aims to attract about $250 billion in foreign direct investments, as the economy is witnessing significant growth rates of 7 percent, stressing the need to exploit the proportion of youth and the workforce trained in various fields, which represents about 88 percent of those under the age of 55.
He also stressed the attractive incentives that Tashkent offers to foreign investors, including tax exemption in free zones, in addition to a free market of 300 million people in neighboring countries, calling on Qatari companies to invest in his country and export products to the Gulf market with complete freedom, in addition to nearby neighboring markets since Uzbekistan is located in the heart of Central Asia.
At the end of the meeting, the two sides agreed to have a delegation of Qatari businessmen to visit Tashkent to explore investment opportunities in the different sectors that were discussed.