President of Uzbekistan met with representatives of Egyptian business circles

President of the Republic of Uzbekistan Shavkat Mirziyoyev began the first day of his official visit to the Arab Republic of Egypt from a meeting with the heads of the leading companies of this country.

The event was attended by the heads of such large companies as the minister for international cooperation Rania Al Mashat, the president of the Federation of Chambers of Commerce Ibrahim Mahmoud Al-Arabi, Elsewedy Electric, El Araby Group, Orascom Construction, Police Group, Al-Rowad, Lotus Gardens Group.

At the meeting, it was noted that there is great potential in bilateral relations, great opportunities for expanding business and entrepreneurial relations, activating mutual investments between Uzbekistan and Egypt and increasing trade.

The head of state highly appreciated the effective results of the Uzbek-Egyptian Business Forum, which took place yesterday, at the end of which specific agreements were reached on the implementation of more than 20 agreements and agreements worth 1.6 billion dollars in total.

It was noted that the ongoing updates, the liberalization of the economy and the creation of a favorable investment climate open up great opportunities for expanding the activities of the Egyptian business in the Uzbek market. For example, Elsewedy Electric is the largest enterprise in Egypt for the production of electricity, transformers and cable products, and is ready to develop joint projects for the construction of wind and solar power plants, the production of Transformers, cable-wire products and additional components.

Orascom Construction expressed its interest in creating an industrial park in Uzbekistan and organizing chemical production facilities for varnish and paint products and building materials on its territory, as well as the construction of a 100 MW wind power plant.