ABU DHABI, 18th November 2022 – Abu Dhabi Fund for Development participated in the first plenary session of the Council of Foreign Investors in Uzbekistan, which was held this week under the chairmanship of His Excellency Shavkat Mirziyoyev, President of Uzbekistan.
The discussions focused on fostering economic development in Uzbekistan by facilitating investment in various fields and enabling investors to overcome obstacles. Many development institutions and international financial organizations participated in the conference.
Addressing the conference, H.E. Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development, highlighted the special bonds between the UAE and Uzbekistan that have remarkably strengthened over the past decade. “Thanks to the visionary leaders of the two nations, the UAE and Uzbekistan have steadily expanded their strategic cooperation across priority sectors in the mutual interest. We hope that our joint efforts will enable us to take the relations to the next level, in line with the aspirations of the leaders of our two countries,” he said.
H.E. Al Suwaidi expressed appreciation for the government of Uzbekistan for creating a competitive environment for foreign investors in the country, as he underlined ADFD’s contributions to promoting economic sustainability and stimulating development in Uzbekistan through the Abu Dhabi Uzbek Investment Company, which the Fund established in 2019 with a 75% contribution to the total capital. The aim of the entity is to support investment in such vital sectors as tourism, agriculture, and transport, and finance medium and small projects in cooperation with local banks in Uzbekistan. In addition, ADFD financed several development projects that contributed to the development of infrastructure, agriculture and achieving economic and social development in Uzbekistan.
The Foreign Investors Council, an advisory body headed by the President of Uzbekistan, was established to drive foreign investment, create a more favorable environment for doing business, implement promising projects, adopt global best practices, and reap commercial benefits from international experiences.