Malaysian and Uzbek companies are being urged to explore new partnerships to unlock the vast economic potential between both nations, said Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. Speaking at the Malaysia-Uzbekistan Business Forum on Wednesday, he emphasized the importance of business-to-business (B2B) and government-to-business (G2B) collaborations, which are paving the way for strategic partnerships across multiple industries.
Major Agreements Signed Across Key Sectors
The forum saw the signing of several Memoranda of Understanding (MOUs) in high-impact industries such as:
- Electronics & Semiconductors
- Automotive Industry
- Hydropower & Solar Energy
- Chemical & Food Industries
- Pharmaceuticals
“These agreements will drive the growth of both our economies and industries,” said Tengku Zafrul, reinforcing the importance of Malaysia’s role as a global manufacturing and services hub. Also present at the event were Prime Minister Datuk Seri Anwar Ibrahim and Uzbekistan’s President Shavkat Mirziyoyev, highlighting the commitment of both governments to fostering stronger economic ties.
Malaysia’s SMEs: A Key Partner for Uzbekistan
Tengku Zafrul also underscored the significance of Malaysia’s small and medium enterprises (SMEs), calling them the backbone of the nation’s economy. With advanced capabilities in manufacturing, technology, agriculture, and logistics, Malaysian SMEs are well-positioned to integrate into Uzbekistan’s growing supply chains. “The resilience and adaptability of Malaysian SMEs make them reliable partners for Uzbek companies looking to expand their sourcing and distribution networks in the region,” he noted.
Uzbekistan’s Rapid Growth Presents Exciting Opportunities
Uzbekistan, one of the world’s youngest and fastest-growing economies, is on track to achieve a GDP growth rate of 5.5% to 5.8% over the next three years. With ongoing economic reforms and modernization efforts, the country is becoming an attractive investment destination.
Tengku Zafrul welcomed Uzbekistan’s strong interest in learning from Malaysia’s expertise and developing deeper industrial ties. “By leveraging each other’s strengths, both nations can accelerate economic progress and create long-term benefits for businesses and industries,” he added. As Malaysia and Uzbekistan move towards a new era of economic cooperation, businesses from both sides have an unprecedented opportunity to collaborate, innovate, and expand into new markets.
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