BAKU, Azerbaijan, August 8. Uzbekistan and
Japan have signed an agreement to advance a technical cooperation
project aimed at developing free economic zones, attracting foreign
direct investment and supporting industrial development.
This was reflected in the statement by Uzbekistan's Ministry of
Investment, Industry and Trade following a meeting between Minister
Laziz Kudratov and a delegation from the Japan International
Cooperation Agency (JICA) led by Sakai Mamoru, head of JICA's
representative office in Uzbekistan.
The two sides reviewed the findings of a JICA diagnostic
mission, including consultations held with relevant Uzbek
ministries and government agencies as well as the administrations
of the country's free economic zones.
The planned technical cooperation project is designed to
strengthen the effectiveness and development of Uzbekistan's free
economic zones while creating conditions to attract additional
foreign direct investment and support industrial growth.
The initiative is also expected to help improve Uzbekistan's
investment environment by identifying practical measures to enhance
the performance and attractiveness of free economic zones for
international investors.
Following the meeting, the parties signed a protocol outlining
the next steps for implementing the project.
"The project will contribute to strengthening the
Uzbekistan-Japan partnership, promoting industrial development and
enhancing Uzbekistan's investment attractiveness," the ministry
said.
The cooperation with JICA comes as Uzbekistan continues efforts
to expand its industrial base and attract foreign capital into
priority sectors. Free economic zones are expected to play an
important role in these efforts by providing platforms for
investment projects, manufacturing and export-oriented
production.
The latest agreement also provides a framework for continued
cooperation between Uzbek authorities and JICA on improving the
country's investment infrastructure and supporting the development
of industrial projects.
The parties agreed to continue working together on the project's
subsequent stages.
