The General Authority for Investment and Free Zones (GAFI) hosted the Egyptian-Uzbek business forum under the co-chairmanship of GAFI’s CEO Hossam Heiba and Uzbek Minister of Investment and Foreign Trade Kudratov Laziz Shavkatovich.

The business forum was also attended by representatives of the ministries of electricity, culture, tourism, agriculture and health.

Additionally, representatives from the federations and chambers of commerce and industry in the two countries attended the forum.

During the forum, seven memoranda of understanding (MoUs) were signed between the Egyptian private sector and the Uzbek government to forge investment partnerships in the spheres of pharmaceuticals, textile, energy, electricity and healthcare.

The exchange of presidential visits between the two countries gave a new impetus to the diplomatic and economic ties between the two countries, Heiba said during the forum.

Heiba further reviewed the various investment opportunities in Egypt, as well as the economic reforms undertaken by the government to lure foreign investments and shed light on the available investment opportunities in the mega national projects.

He also pointed out to the government’s decision to launch the State Ownership Policy Document, which primarily aims to enhance the private sector’s participation in development projects.

For his part, Shavkatovich said that the anticipated visit of Uzbek President Shavkat Mirziyoyev to Egypt, scheduled for Monday, will herald a new era in the investment ties between the two countries.

The visit of President Sisi to Tashkent in 2018 had contributed to turning a new leaf in the economic and trade ties between the two countries, he added.

The Uzbek minister also said that he is currently holding meetings with representatives from the mega Egyptian companies operating in several spheres, including weaving and foodstuff.

Uzbekistan aspires to position itself as a gate to the Egyptian business community for investment and export to the central Asian countries, he further said.

Source: State Information Service Egypt