By Abdul Kerimkhanov
A group of Malaysian businessmen will visit Uzbekistan to explore the favorable fields for further cooperation.
The Embassy of Uzbekistan in Malaysia together with the Malaysian External Trade Development Corporation - MATRADE and the Federation of Malaysian Manufacturers - FMM organized a round table with the business community representatives on the trade, economic, investment and tourism potential of Uzbekistan.
MATRADE’s mission to promote Malaysia’s export has enabled many local companies to carve new frontiers in global markets.
FMM is Malaysia's premier economic organisation. Since its establishment in 1968, the FMM has consistently led Malaysian manufacturers in spearheading the nation's growth and modernisation.
The meeting was held in Kota Kinabalu, Sabah State Administrative Center on July 12.
As part of the event, the Malaysian side was thoroughly acquainted with the favorable conditions for doing business created in Uzbekistan, measures taken to support the development of hotel construction and ongoing large-scale economic reforms (including monetary policy, the introduction of private ownership of land).
In addition, the Uzbek side acquainted its colleagues with the activities of free economic zones, the country's trade and economic potential, in particular, the Khorezm region, including the Hazorasp FEZ, as well as the upcoming international investment forums in Uzbekistan.
John Ho, Chairman of the regional division of FMM in Sabah state, gave a high assessment to the large-scale reforms carried out by President of Uzbekistan Shavkat Mirziyoyev to liberalize the economy and improve the business climate in the country.
He voiced his hope that Uzbekistan will export fruit and vegetable products to Malaysia.
The implementation of promising investment projects in various sectors of the economy, including the energy sector, the textile and food industries, as well as the mutual promotion of the tourist potential of the Uzbek regions and the Sabah state is also in the interests of the two countries.
Malaysia is one of the reliable partners of Uzbekistan in Southeast Asia. During the years of independence, people of the two countries have achieved great success in mastering new industries, the most complex technologies in organizing and expanding finished products.
An example of this is the automotive, textile, consumer electronics industries. At one time, Malaysia, rich in oil and gas deposits, palm oil and tin, was also a “raw material base”. Today, the country is among the dynamically developing countries.
Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
Follow us on Twitter @AzerNewsAz