President of Uzbekistan Advocates Expanding Practical Cooperation with Japanese Business

Tashkent, Uzbekistan (UzDaily.com) — As part of his official visit to Japan, President of the Republic of Uzbekistan Shavkat Mirziyoyev held a meeting with executives from leading Japanese companies, financial institutions, and business associations.

The event was attended by Japan’s Minister of Economy, Trade, and Industry Ryosei Akazawa, as well as top managers from corporations, companies, banks, and organizations including Sojitz, Sumitomo, Toyota, ITOCHU, Mitsubishi, Marubeni, Daito Trust Construction, NEC, SBI Holdings, Ajinomoto, Japan Tobacco, Hitachi, Mitsui, Balcom, Eurus Energy, Chubu Electric Power, Shikoku Electric, Shimizu, Hankyu Travel International, JOGMEC, JBIC, JICA, NEXI, JETRO, ROTOBO, Norinchukin, SBI Shinsei, among others.

President Mirziyoyev noted that such a high-level participation of Japanese business reflects the strong mutual trust and sustained interest in developing economic partnership. He emphasized the qualitative transformation in cooperation: whereas Japanese companies previously mostly engaged in contracting projects, today they actively invest, establish joint ventures, introduce technologies, and train local personnel.

Positive trends are also evident in trade and economic indicators: over the past eight years, bilateral trade has doubled, and the number of Japanese enterprises in Uzbekistan has increased tenfold. Cooperation has been established in priority sectors including energy, healthcare, geology, information technology, and infrastructure.

During the meeting, the President outlined key directions for Uzbekistan’s socio-economic development, noting that GDP has doubled over the past eight years, with a goal to reach above-average income levels by 2030. He invited Japanese businesses to actively participate in modernizing the economy, including industrialization, adoption of advanced technologies, productivity growth, and expansion of export potential.

Priority areas for further cooperation were identified as energy security and the “green” transition, processing of critical minerals with full value chains, development of machinery and industrial equipment, creation of a high-tech industrial economy, advancement of information technologies and artificial intelligence programs, and establishment of modern special economic zones following the Japanese model.

President Mirziyoyev emphasized that Uzbekistan views Japan not only as an investor but also as a strategic partner in building the industry of the future. Japanese business representatives confirmed their commitment to expanding their presence in the country and participating in joint projects.

The meeting concluded with a ceremony for the exchange of bilateral agreements in the presence of President Shavkat Mirziyoyev and Minister Ryosei Akazawa.