FCCI, SCCI explore avenues of investment co-op with Uzbekistan

The delegation was led by Vakhabov Davron, Chairman of Uzbekistan’s Chamber of Commerce and Industry. Held at the SCCI’s headquarters, the meeting was attended by HE Waleed Abdul Rahman Bukhatir, Second Vice Chairman of the Board of Directors, SCCI, Humaid Mohamed Ben Salem, Secretary General of the FCCI, HE Mohammad Amin Al Awadi, SCCI’s Director-General, and Abdulaziz Mohammed Shattaf, Assistant Director-General of the Communication and Business Sector at the Sharjah Chamber.

During the meeting, the two sides discussed ways to boost business collaboration, especially in strategic sectors such as agriculture, livestock, cotton, tourism, and foreign investment systems. Both sides also reviewed the economic and investment opportunities available in Sharjah and Uzbekistan and explored avenues of benefiting from them to help propel the two sides’ economic ties to the next level.

Al Owais stressed that the UAE and Uzbekistan share strong bilateral relations on all levels, adding that it is time to advance both countries’ trade relations so that they are on par with the quality of their bilateral ties. There are so many prospects for collaboration, which Emirati and Uzbekistani business owners and investors can use to establish partnerships and bolster the economies of the two nations.

He emphasized that Emirati businessmen take great interest in learning about various investment opportunities available all around the globe, including those in Uzbekistan, adding that the SCCI and FCCI will spare no effort to support the bilateral collaboration between the UAE and Uzbekistan’s private sectors.

Speaking about the UAE’s business advantages, Al Owais clarified that the UAE has developed a sophisticated infrastructure and undertaken significant legislative reforms to strengthen its position as a global hub for business and investment.

"The country’s competitive business incentives, coupled with the advantages provided by the economic and free zones, have paved the way for attracting more foreign investments," Al Owais said, adding that the UAE chambers of commerce welcome the activation of the UAE-Uzbek business council, which was formed on August 25, 2021.

He reiterated that the council will reflect positively on the UAE and Uzbekistan’s economic ties by encouraging businesspersons from the private sectors of both nations to exchange business trips and learn about the potential for bilateral collaboration between Emirati and Uzbekistani companies.

For his part, Vakhabov Davron called on Emirati businessmen to visit Uzbekistan and explore closely the investment opportunities available in the country, especially in key sectors including the oil industry, food industries, pharmaceuticals, plastics, and energy. He stressed that Uzbekistan is interested in strengthening its cooperation ties with Emirati companies.