Tashkent, Uzbekistan (UzDaily.com) — On 16 February, ahead of the official visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to Kuwait, an Uzbek-Kuwaiti business forum was held in the capital of Kuwait.

The event was attended by leaders of relevant ministries and agencies, industry associations, as well as heads of over 100 large companies and financial institutions from both countries.

The delegations were led by the Minister of Investments, Industry, and Trade of the Republic of Uzbekistan Laziz Kudratov and the head of the Kuwait Chamber of Commerce and Industry, Rabeh al-Rabeh.

In his opening speech, Laziz Kudratov noted the steady growth of the Uzbek-Kuwaiti partnership in recent years. Large Kuwaiti companies are actively implementing projects in Uzbekistan in the fields of healthcare, agriculture, infrastructure, hospitality, pharmaceuticals, and real estate.

He emphasized that Uzbekistan has created the most favorable conditions for foreign investors, including tax benefits, the removal of administrative barriers, a large-scale privatization program, and the presence of dozens of free economic zones with developed infrastructure. Furthermore, there is duty-free access to the markets of the CIS and the EU.

Thanks to these reforms, the country’s economy has almost doubled in recent years. In 2024, Uzbekistan’s GDP grew by 6.5%, reaching US$115 billion, while foreign direct investments increased by 1.6 times, totaling US$34.9 billion.

The "Uzbekistan-2030" strategy envisions continued deep reforms aimed at increasing GDP to $200 billion, achieving a status as a country with an above-average income level, attracting US$110 billion in direct foreign investments, and growing exports to US$45 billion per year.

There is significant potential for further expansion of trade-economic, investment, and industrial cooperation. Priority areas include the agro-industrial sector, textile industry, mining, energy and petrochemicals, healthcare and pharmaceuticals, privatization, logistics, telecommunications, and tourism.

The head of the Kuwait Chamber of Commerce and Industry, Rabeh al-Rabeh, highly appreciated Uzbekistan’s efforts to create favorable conditions for the development of bilateral partnership and urged entrepreneurs from both countries to engage actively, assuring them of both sides’ readiness to support new projects and initiatives.

The forum also featured "B2B" and "G2B" negotiations and a national product exhibition, providing entrepreneurs with an opportunity to establish new contacts, discuss joint projects, and trade supplies.

As a result of the event, a number of investment agreements and trade contracts were signed, which, according to participants, will significantly strengthen Uzbek-Kuwaiti economic ties and increase mutual trade volumes in the near future.