Abu Dhabi Uzbek Investment Company and Dubai Ports World signed an agreement on Tuesday to explore and promote investment opportunities in the transport and logistics sector in Uzbekistan.
The Abu Dhabi Fund for Development (ADFD) holds a 75 per cent stake in the Abu Dhabi Uzbek Investment Company, which was established in 2019. With a capital of $100 million, it looks to invest in various sectors including tourism, agriculture, transport and finance within Uzbekistan.
The deal was signed at the sidelines of a meeting between Mohammad Saif Al Suwaidi, director general of the ADFD and Sardar Omar Zakov, deputy prime minister and minister of investment and foreign trade of Uzbekistan.
Mr Al Suwaidi said the fund has invested Dh380m in Uzbekistan so far.
ADFD has financed a Dh18.4m infrastructure project in Samarkand, a city in southeastern Uzbekistan and road maintenance projects worth Dh3.7m in the Karakalpakstan region.
Mr Zakov praised the UAE’s role in helping developing countries achieve sustainable development targets.