Uzbekistan Strengthens Economic Cooperation with Kuwait and Attracts Investments

Tashkent, Uzbekistan (UzDaily.com) — As part of the Kuwait-Uzbekistan Business Forum and the exhibition of Uzbek products, Uzbekistan’s Minister of Investments, Industry, and Trade, Laziz Kudratov, highlighted the significance of the delegation’s visit to Kuwait as a continuation of the outcomes from President Shavkat Mirziyoyev’s official visit earlier this year, according to Kuwaiti media.

The minister noted that the forum provides a platform to ensure full implementation of agreements reached at the highest level and to further deepen bilateral cooperation.

Kudratov emphasized the increase in direct flights between the two countries to four per week, boosting tourism, business travel, and trade. He also mentioned the creation of new logistics corridors to ensure smooth movement of goods, positively impacting trade volumes. Discussions included major investment projects and new opportunities for joint ventures in both the public and private sectors.

Particular attention was given to attracting Kuwaiti technology, expertise, and capital to support strategically important sectors in Uzbekistan, including oil and gas, chemical industry, construction, real estate, and banking.

The minister highlighted Uzbekistan’s potential in food security and proposed two avenues for agricultural cooperation: direct supply of Uzbek products to Kuwaiti companies or the establishment of joint ventures in Uzbekistan to produce goods for the Kuwaiti market.

Kudratov also pointed out the country’s attractive conditions for foreign investors, including 100% ownership rights, protection against nationalization, freedom to repatriate profits, and currency convertibility. Currently, over 18,000 foreign investors operate nearly 20,000 companies in Uzbekistan, reflecting strong confidence in the Uzbek market.

He invited Kuwaiti companies to visit Uzbekistan to personally assess investment opportunities, noting the convenience of direct flights. Uzbek companies, in turn, are ready to explore investments in Kuwait in textiles, food industry, logistics, and distribution centers, paving the way for long-term bilateral partnerships.

Overall, the delegation’s visit and the business forum strengthen economic ties between Uzbekistan and Kuwait, opening new avenues for mutually beneficial cooperation and joint projects.