The Dubai Built-in Financial Zones Authority (DIEZ) signed a memorandum of figuring out (MoU) with the Ministry of Funding, Business, and Industry of the Republic of Uzbekistan. The MoU targets to foster collaboration, beef up strategic partnerships, and building up the quantity of industry trade between the UAE and Uzbekistan, using monetary expansion in each nations.
This took park throughout an professional discuss with via a delegation from DIEZ to the Uzbek capital of Tashkent, the place His Excellency Laziz Kudratov, Minister of Funding, Business, and Industry of the republic of Uzbekistan welcomed His Excellency Dr. Mohammed Al Zarooni, Government Chairman of DIEZ, along a number of officers from each the Ministry and DIEZ.
Virtual Generation and Sustainability
Based on the MoU, each events have dedicated to bolstering firms focusing on virtual era and sustainability sectors inside of their respective nations. This contract targets to foster the improvement of the virtual trade in each the UAE and Uzbekistan. Additionally, the contract includes the established order of a joint virtual platform enabling Uzbek firms and DIEZ opposite numbers to leverage alternatives for optimistic cooperation and mutually recommended partnerships. This initiative will harness the experience of Dubai CommerCity, the separate zone devoted to virtual trade and a part of DIEZ.
All through his assembly with His Excellency Kudratov, His Excellency Dr. Mohammed Al Zarooni highlighted that DIEZ is raring to actively give a contribution to nourishing the prevailing members of the family between the UAE and Uzbekistan. This constancy contains supporting the management of each nations and raising cooperation between the industrial separate zones in Dubai and Uzbekistan. Additionally, DIEZ targets to support industry and funding ties throughout the most important sectors, thereby enabling each function communities to pursue a broader spectrum of funding alternatives.
His Excellency Al Zarooni prolonged his invitation to Uzbek firms to leverage the advantages, incentives, and facilitations introduced via DIEZ and its financial zones. Those alternatives provide promising potentialities for enlargement and enlargement around the UAE and MENA patch. He highlighted Dubai’s supportive financial condition, which fosters function enlargement and draws various investments. Al Zarooni emphasised that the MoU signing with the Ministry of Funding, Business, and Industry of the Republic of Uzbekistan aligns with DIEZ’s targets of actively contributing to Dubai’s financial development and raising the Emirate’s place as a regional and international funding hub, famend for its business-friendly condition and streamlined processes.
His Excellency Laziz Kudratov, emphasised his nation’s constancy to improving financial ties with the UAE, aiming for persisted enlargement and mutual prosperity. He underscored the virtue of bolstering bilateral members of the family and using cooperation that may move industry exchanges and foster partnerships inside of each function communities. Moreover, he highlighted the possibility of using investments, facilitating wisdom switch, and beginning collaborative ventures between the 2 nations.
His Excellency Kudratov praised the numerous function of Dubai and its financial zones in facilitating Uzbek exports’ access into the UAE and broader Center Jap markets. He highlighted Dubai’s strategic location, complex infrastructure, and funding condition as key components. He recommended the function family throughout the UAE to capitalize on Uzbekistan’s promising alternatives, specifically in sectors comparable to F&B, prescription drugs, infrastructure, commercial apparatus, metals, electronics, textiles, and others.
Grassland VisitThe DIEZ delegation’s discuss with to Uzbekistan integrated a gathering with the management of Uzum corporate, Chamber of Trade and two visits to the leading edge clinical and manufacturing pharmaceutical pile referred to as Tashkent Pharma Landscape and the Angren FEZ. All through their discuss with, the delegation explored the most efficient practices, funding alternatives, and attainable partnerships between the 2 events.
In January 2024, the UAE and Uzbekistan signed a MoU to mutually immune holders of diplomatic, particular, VIP, and familiar passports from access visas. This contract targets to facilitate move between the 2 nations, toughen bilateral members of the family and foster joint cooperation throughout numerous grounds. Significantly, there are over 50 weekly flights connecting Uzbekistan and the UAE.
Bilateral members of the family between the UAE and Uzbekistan are witnessing steady construction, as non-oil overseas industry between the 2 nations reached a report enlargement charge of 104%, with the worth of industry exchanges attaining USD 993 million in 2022, in comparison to USD 487 million in 2021. The overall UAE non-oil exports to Uzbekistan reached about USD 92 million in 2022, with a enlargement charge of 190% in comparison to 2021.
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