BAKU, Azerbaijan, May 30. Egyptian Orascom Investment Holding is eager to implement various major investment projects in Uzbekistan, totaling over $1.2 billion as part of a joint roadmap, Trend reports.
The issue was discussed at the meeting between President Shavkat Mirziyoyev and Naguib Sawiris, Chairman of Egypt's prominent investment and industrial corporation, Orascom Investment Holding.
The discussions revolved around projects in food production, geological exploration, metal deposits development, establishment and management of modern hotel complexes, as well as the construction of solar and wind power plants.
Both Uzbekistan and Egypt are committed to bolstering economic cooperation and fostering mutually beneficial partnerships. The envisioned investment projects demonstrate Uzbekistan's determination to attract foreign investments and promote sustainable growth across various sectors of the economy.
Earlier, Jurabek Mirzamakhmudov, Uzbek Energy Minister, reported that Elsewedy, one of Egypt's largest companies, is prepared to invest in both renewable energy sources and production in Uzbekistan.
President Mirziyoyev earlier this year stated that the volume of foreign direct investments in Uzbekistan since 2017 tripled, while the number of entrepreneurs in the country as a whole has increased 4 times.
By attracting substantial investments and leveraging the expertise of international partners, Uzbekistan aims to drive economic diversification, create new employment opportunities, and foster technological advancements.