The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Dubai / WAM
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, met President Shavkat Mirziyoyev of Uzbekistan on Tuesday.
During the meeting, the two sides reviewed bilateral ties between the two countries, particularly in the tourism, energy, and investment sectors.
HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council; HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai; HH Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior; HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs; HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group; Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs and the Future; Dr Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs; Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation; Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry; Khalifa Saeed Sulaiman, Director-General of the Dubai Protocol and Hospitality Department, and Mohammed Hareb Bursa Al Mehairbi, UAE Ambassador to Uzbekistan attended the meeting.
A high-level Uzbek delegation including H. Sultanov, Advisor to the President; Elyor Ganiev, Deputy Prime Minister; Abdulaziz Kamilov, Minister of Foreign Affairs; Sardor Umurzakov, Minister of Investments and Foreign Trade; and Bakhtiar Khaderovic Ibrahimov, Ambassador of Uzbekistan to the UAE, were also present during the discussions.
ADFD, Uzbekistan ink three pacts
Abu Dhabi / WAM
Abu Dhabi Fund for Development (ADFD), signed three agreements with the Government of Uzbekistan. These include a memorandum of understanding (MoU), to assess the possibility of financing infrastructure projects in Samarkand worth $300 million, a $5 million concessionary loan agreement for feasibility studies for the Samarkand infrastructure projects, and an agreement to establish an investment company between ADFD and Uzbekistan to draw investments into Uzbekistan.
Mohammed Saif Al Suwaidi, Director General of ADFD, signed all the three agreements on behalf of the Fund. For Uzbekistan, Elior Ganiev, Uzbek Deputy Prime Minister, signed the MoU and concessionary loan agreement, while Shukhrat Vafaev, Uzbek Deputy Minister of Investments and Foreign Trade and CEO of the Fund for Reconstruction and Development, signed the investment company agreement.
The agreements were signed in presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum, as well as Shavkat Mirziyoyev, President of Uzbekistan.
Senior officials from both sides were also present.
Commenting on the announcement, Mohammed Saif Al Suwaidi said, “Today’s joint agreements further solidify and strengthen the close bilateral ties between the UAE and Uzbekistan. As a proud strategic partner of Uzbekistan, ADFD is committed to driving sustainable economic development in the country, and achieving the outlined priorities of the Uzbek government.”
He noted that the $5 million concessionary loan will go towards preparing plans and consultancy studies needed to implement the Uzbek government’s initiatives and projects worth US$300 million that aim to modernise the infrastructure of the city of Samarkand and accelerate socio-economic development.
“The Fund’s strategy is to continue playing an active role in stimulating economic growth in developing countries, while broadening our scope in funding development projects across the world. We are equally committed to supporting the UAE national economy through identifying opportunities for investments in collaboration with over 85 of our partner countries,” Al Suwaidi added.
For his part, Elior Ganiev commended the UAE and ADFD’s role in backing various sustainable programmes across the world. Underlining the strong ties shared between the UAE and Uzbekistan, he said ADFD’s partnership will contribute to achieving the Uzbek government’s ambitious development vision.
He pointed out that the joint ADFD-Uzbek company aims to invest in several economic and development fields, especially in the sectors of tourism, industry and services. Stressing that Uzbekistan is full of diverse investment opportunities, he added that the company will further enhance the investment climate for foreign investors.
Since its inception in 1971, ADFD has financed development projects to the tune of AED84 billion in 88 countries around the world through concessionary loans and Abu Dhabi government grants.