The President of Uzbekistan advocates for expanding practical cooperation with Japanese businesses
The event was attended by Japan’s Minister of Economy, Trade and Industry Ryosei Akazawa, as well as top managers of major corporations and companies, financial institutions, and banks including Sojitz, Sumitomo, Toyota, ITOCHU, Mitsubishi, Marubeni, Daito Trust Construction, NEC, SBI Holdings, Ajinomoto, Japan Tobacco, Hitachi, Mitsui, Balcom, NEC, Eurus Energy, Chubu Electric Power, Shikoku Electric, Shimizu, Hankyu Travel International, Japan Organization for Metals and Energy Security (JOGMEC), Japan Bank for International Cooperation (JBIC), Japan International Cooperation Agency (JICA), Nippon Export and Investment Insurance (NEXI), Japan External Trade Organization (JETRO), Japan Association for Trade with Russia and NIS (ROTOBO), Norinchukin Bank, SBI Shinsei, the Japan Association of Travel Agents, and others.
Addressing the meeting participants, the Head of State noted that such representative participation by Japanese businesses is a clear testament to the high level of mutual trust and the parties’ sustained interest in further developing the economic partnership.
It should be noted that cooperation between Uzbekistan and Japan has reached a new level in recent years.
Whereas previously Japanese companies were primarily involved in contracting projects, today they are actively investing in the country’s economy, establishing joint ventures, participating in management, transferring technologies, and contributing to training national personnel.
As a result of these qualitative changes, Japan has become one of Uzbekistan’s key economic and technological partners.
The positive dynamic is also reflected in trade and economic indicators. Over the past 8 years, trade turnover has doubled, while the number of Japanese enterprises operating in Uzbekistan has increased tenfold.
Strong cooperation has been established in energy, healthcare, geology, information technology, infrastructure, and other priority areas.
During the meeting, the President focused on the country’s key socioeconomic development goals.
It was noted that Uzbekistan’s gross domestic product has doubled over the past 8 years. By 2030, the goal is to elevate the country to upper-middle-income status.
The Head of State invited Japanese businesses to actively participate in modernizing Uzbekistan’s economy, with the goal of accelerating industrialization, introducing advanced technologies, increasing productivity, and expanding export opportunities.
In this context, priority areas for further cooperation with Japanese business circles were identified.
These include ensuring energy stability and the green transition, developing renewable energy sources and storage systems, and reducing the economy’s carbon intensity.
Particular attention was paid to the deep processing of critical minerals to form a complete value-added chain.
Promising areas also include the development of mechanical engineering and industrial equipment, as well as the formation of a modern, high-tech industrial economy.
A special emphasis was placed on developing information technology, including the implementation of artificial intelligence and digitalization programs.
Another important area is the creation of modern special economic zones, designed to become centers for high-tech, export-oriented production and for industrial cooperation through the automation of production processes and the implementation of digital management systems.
With JICA’s assistance, a project is being prepared to establish a special economic zone aligned with the Japanese model and standards.
In conclusion, the Head of State emphasized that Uzbekistan views Japan not only as an investor but also as a strategic partner in building the future industry.
In turn, representatives of Japan’s business community expressed their commitment to expanding their presence in Uzbekistan and announced plans to participate in implementing joint projects in priority areas.
Following the meeting, a ceremony for the exchange of bilateral agreements was held in the presence of the President of Uzbekistan Shavkat Mirziyoyev and Minister Ryosei Akazawa.
UzA
