ABU DHABI (ALETIHAD)

The UAE Ministry of Investment has signed a memorandum of understanding (MoU) with the Government of the Republic of Uzbekistan to advance the development of Uzbekistan’s mining sector and strengthen investment cooperation between the two countries, according to a statement.

The MoU was signed in Abu Dhabi on Tuesday by Mohamed Hassan Alsuwaidi, UAE Minister of Investment, and Jamshid Khodjaev, Deputy Prime Minister of the Republic of Uzbekistan. The agreement aims to support the sustainable growth, modernisation and long-term economic value creation of Uzbekistan’s mining sector.

Under the MoU, cooperation will span the full mining value chain, from upstream exploration and development through to downstream manufacturing. The framework also establishes collaboration between government and regulatory authorities, state-owned investment companies, and private sector partners through investment institutions and sector-focused entities.

According to the statement, the framework will support the identification of investment opportunities and the development of financing and investment structures, including foreign direct investment and public-private partnerships. It is also intended to facilitate the mobilisation of capital, technical expertise and advanced technologies to enhance productivity and global competitiveness in the sector.

The agreement further prioritises the development and modernisation of supporting infrastructure across multiple sectors, including power generation and renewable energy solutions, grid upgrades, water systems and logistics networks.

Commenting on the signing, Alsuwaidi said: “The UAE and Uzbekistan share a longstanding relationship built on mutual trust and strong economic cooperation. Today’s signing reflects the UAE’s commitment to forging strategic international partnerships in sectors of mutual interest that support sustainable development and long-term economic value creation. By working closely with Uzbekistan, we aim to unlock high-quality investment opportunities across the minerals value chain for the benefit of both nations.”

Khodjaev said the agreement marked an important step forward in bilateral cooperation. “This MoU marks an important step in strengthening cooperation between Uzbekistan and the UAE in the minerals sector. Through collaboration on investment facilitation, governance, workforce development and monitoring frameworks, we aim to support responsible mineral development and create sustainable industrial growth opportunities for both economies,” he said.

The statement noted that economic ties between the UAE and Uzbekistan continue to deepen, with UAE investments in Uzbekistan reaching $1.3 billion in 2024, including $700 million in renewable energy projects.

More than $4 billion in joint projects are currently under development.