Ministry of Investment, Industry and Trade of the Republic of Uzbekistan

On June 23 this year, in the capital city of Mongolia, Ulaanbaatar, the Mongolia–Uzbekistan Business Forum was held ahead of the state visit of the President of the Republic of Uzbekistan, H.E. Shavkat Mirziyoyev. The event brought together leaders from ministries and government agencies, regional administrations, industry associations, and over 300 companies from both countries. The forum was organized by the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan with the assistance of the Chamber of Commerce and Industry.

The Uzbek delegation was headed by Deputy Prime Minister of the Republic of Uzbekistan, Jamshid Khodjaev, while the Mongolian side was led by Deputy Prime Minister of Mongolia, Sainbuyan Amarsaikhan.

The forum was moderated by Ilzat Kasimov, Deputy Minister of Investments, Industry, and Trade of Uzbekistan, and Solongo Enkhsaikhan, Director of the Department of International Cooperation of the Mongolian National Chamber of Commerce and Industry.

In his keynote speech, Mr. Khodjaev emphasized the large-scale reforms implemented in New Uzbekistan to enhance the business climate and attract foreign investment. As a result of these measures, Uzbekistan’s GDP has doubled and exceeded USD 100 billion for the first time, with economic growth reaching 6.5% in 2024. More than USD 70 billion in foreign investment has been attracted to the country.

The Government of Uzbekistan reaffirmed its commitment to providing comprehensive support to foreign investors and creating favorable conditions for the successful implementation of joint projects.

Key areas for mutually beneficial cooperation were highlighted, including trade initiatives aimed at expanding the range of exported goods such as fruits and vegetables, fertilizers, construction materials, pharmaceuticals, household appliances, textiles, footwear, meat products, leather, and wool. Plans to open trading houses and organize exhibitions were also discussed.

Industrial cooperation is set to advance through joint production in leather, wool, and cashmere processing, as well as the manufacturing of electrical equipment, machinery, and construction materials.

Further initiatives were announced in the agriculture and livestock sectors, including the establishment of greenhouses, the introduction of drip irrigation technologies, and the storage and processing of harvests.

Joint projects in the exploration and development of mineral resources also hold significant promise.

In his remarks, Deputy Prime Minister Amarsaikhan commended Uzbekistan’s investment climate and encouraged Mongolian businesses to actively engage with Uzbek partners and pursue mutually beneficial projects.

The forum concluded with a bilateral document exchange ceremony concerning joint projects for the production of finished products from wool, blended fabrics, textiles, and leather goods in Uzbekistan.

As part of the official program, the “Made in Uzbekistan” national product exhibition was inaugurated, featuring goods from Uzbek manufacturers. B2B and G2B meetings were also held, enabling entrepreneurs to discuss practical cooperation aspects and outline concrete steps for future collaboration.