Uzbekistan and Eurasian Development Bank Discuss Investments in Mining and Metallurgical Industries

Representatives from Uzbekistan and Pakistan held talks regarding potential cooperation in joint investment projects. The discussed areas include the digital economy, sugar production, and the cement industry.

The discussions took place during a meeting between the Ambassador of Uzbekistan, Alisher Tukhtayev, and the head of the Dewan Yousuf group. This meeting is part of efforts to expand trade and economic interaction between the two states, as reported by the Dunyo news agency.

One of the central issues was cooperation in the field of the digital economy and crypto infrastructure. Dewan Yousuf noted Uzbekistan's significant potential regarding blockchain technologies and crypto assets, expressing interest in implementing joint initiatives.

The Pakistani businessman proposed exploring opportunities to attract international digital asset funds, create modern digital platforms, and implement energy-efficient technologies for cryptocurrency mining.

The parties also considered prospects for partnership in the sugar industry. A Pakistani company is considering importing raw materials, including from Brazil, processing them in Uzbekistan, and selling the finished products on the domestic market.

In this regard, the possibility of launching a joint venture using the production facilities of the Angren Sugar Factory was discussed. Furthermore, the negotiations covered cooperation in the cement sector, as well as the development of logistics and trade links between the countries.

Following the meetings, an agreement was reached that the Dewan Yousuf group would prepare detailed investment proposals. Online consultations with relevant ministries and agencies of Uzbekistan are planned to further develop these initiatives. The parties also intend to organize a visit by a Pakistani business delegation to Uzbekistan to assess promising projects and implementation opportunities.

Yousuf Dewan Companies was founded in 1916 and is one of Pakistan's largest industrial and business groups. Its interests cover automotive manufacturing, cement and sugar production, textiles, synthetic fiber production, and foreign trade. Companies within this group employ over 4000 people.

Uzbekistan and the Korea Infrastructure Investment Corporation (KIND) held discussions on establishing a joint investment company and financing infrastructure projects.

The meeting took place on October 21 between Ibragim Ergashov, Deputy Minister of Investments, Industry, and Trade of Uzbekistan, and a delegation from South Korea.

The parties reviewed potential areas for cooperation, including airport modernization, smart city development, and road infrastructure.

Particular attention was paid to mechanisms for attracting investments, expanding financial cooperation, and defining priority areas for joint ventures.

Following the negotiations, participants agreed to intensify work on creating the investment company, study financing options for promising projects, and continue discussing practical ways to implement them.

The Minister of Mining and Geology of Uzbekistan, B. Islamov, the Minister of Investment, Industry and Trade Laziz Kudratov, and the Executive Director of the Reconstruction and Development Fund Sh. Vafoyev held a meeting with a delegation from Eldridge Industries on October 23.

The Eldridge Industries delegation was headed by co-founder, chairman, and CEO Todd Bowley. The meeting also took place with the participation of A. Khursanov, Chairman of the Board of Directors of Almalyk Mining and Metallurgical Combine (AMMC), and B. Abdullaev, Chairman of the Board of Directors of Uzmetkombinat, as reported by the Ministry of Mining and Geology.

Uzbek officials presented the delegation with information about the activities of AMMC and Uzmetkombinat, as well as about projects implemented by these enterprises in partnership with foreign companies.

The parties discussed opportunities for cooperation in the fields of mineral extraction, metallurgy, and other industries, as well as prospects for implementing investment projects.