President Mirziyoyev meets with Egyptian businesses

The President of the Republic of Uzbekistan Shavkat Mirziyoyev met with the heads of leading companies in Egypt, UzA reported.

From the Egyptian side, the event was attended by the Minister of International Cooperation Rania Al-Mashat, President of the Federation of Egyptian Chambers of Commerce Ibrahim Mahmoud Al Araby, heads of such large companies as Elsewedy Electric, El Araby Group, Orascom Construction, Poliserve Group, Al-Rowad, Lotus Garments Group, and others.

The President of Uzbekistan highly appreciated the results of the Uzbekistan–Egypt Business Forum held the day before, as a result of which specific agreements were reached on the implementation of more than 20 agreements and contracts worth $1.6 billion.

Wide opportunities for industrial cooperation in the energy, electrical, chemical, mining, textile, agricultural, pharmaceutical, leather and footwear industries were noted.

“Egyptian companies have all the opportunities for the joint implementation of large investment programs in our country,” Shavkat Mirziyoyev emphasized.

In their speeches, representatives of leading Egyptian companies highly appreciated the ongoing large-scale reforms in New Uzbekistan.

It was emphasized that the ongoing transformations, the liberalization of the economy and the favorable investment climate opened up great opportunities for expanding the presence of Egyptian business in the Uzbek market.

For example, Elsewedy Electric, Egypt’s largest producer of electricity, transformers and cable products, is ready for the practical development of joint projects for the construction of wind and solar power plants, the establishment of the production of transformers, cable and wire products and accessories.

The leadership of Orascom Construction expressed interest in implementing a project in Uzbekistan to create an industrial park with the subsequent construction of facilities for the production of paints and varnishes and chemicals for building materials on its territory, as well as the construction of a wind farm with a capacity of 100 MW.