Uzbekistan and UAE Sign Memorandum on Cooperation in the Mining Sector

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan and the United Arab Emirates have signed an agreement to expand cooperation in the mining industry, aimed at scaling up investments, modernizing infrastructure, and deepening economic ties between the two countries.

The Memorandum of Understanding was signed by UAE Minister of Investment Mohammed Hassan Al-Suwaidi and Uzbekistan’s Deputy Prime Minister Jamshid Khodjaev, the Emirates News Agency (WAM) reported.

The agreement comes amid growing bilateral investment flows. According to WAM, UAE investments in Uzbekistan reached US$1.3 billion in 2024, including approximately US$700 million in the renewable energy sector, while more than US$4 billion in joint projects are currently under implementation.

Commenting on the memorandum, Al-Suwaidi emphasized the long-term relations between the two countries, based on mutual trust and strong economic cooperation. “The signing of today’s agreement reflects the UAE’s commitment to forming strategic international partnerships in sectors of mutual interest, which support sustainable development and create long-term economic value,” the minister said. He added that cooperation with Uzbekistan would unlock high-quality investment opportunities across the entire value chain of the mineral industry for the benefit of both countries.

The agreement focuses on the development and modernization of key supporting infrastructure, including power generation, renewable energy, network upgrades, water supply systems, and logistics networks. The document also promotes industry digitalization, the implementation of innovative solutions, and responsible management, aiming to strengthen the sector’s long-term resilience and reliability.

Under the memorandum, cooperation covers the full value chain of the mining industry, from exploration and resource development to processing and production of finished goods. Uzbekistan’s Deputy Prime Minister Jamshid Khodjaev noted that the memorandum represents an important step in strengthening collaboration with the Gulf state. “Through joint work on investment support, governance, human capital development, and monitoring mechanisms, we aim to promote responsible resource development and create sustainable industrial growth opportunities for both economies,” Khodjaev said.

According to WAM, the agreement establishes a framework for engagement involving government agencies, regulatory bodies, state investment companies, and the private sector, structuring financing mechanisms including foreign direct investment and public-private partnerships.

The mining sector is a key driver of Uzbekistan’s economy, producing gold, copper, uranium, coal, oil, and natural gas, according to the U.S. International Trade Administration. The industry is undergoing modernization, with the government expanding production chains from extraction to processing, attracting foreign investment, and upgrading infrastructure through state enterprises, while ensuring continued international capital inflows.