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Malaysia-Uzbekistan cooperation can transform economy, draw investments — PM

19 May 2024, 3:21 AM
Malaysia-Uzbekistan cooperation can transform economy, draw investments — PM

SAMARKAND, May 19 — Prime Minister Datuk Seri Anwar Ibrahim sees huge potential in the cooperation between Malaysia and Uzbekistan, which can transform and modernise both countries’ economic development and attract investments.

He said for the last one and a half years, Malaysia has been seen as a hub for microchip semiconductors in the region through many investments by major foreign companies.

“Our future capabilities, our ability to build on our own strength among emerging economies... that’s Uzbekistan and Malaysia,” he said in his remarks at the high-level Uzbekistan-Malaysia Business Forum at the Silk Road Samarkand Complex here on Saturday.

About 200 companies from both countries attended the business forum. Uzbekistan Deputy Prime Minister Jamshid Khodjaev was also present.

Anwar said both countries should focus on working together in areas such as digital transformation, energy transition and halal development.

He also noted that trade and investment between the two countries has increased yearly.

“We have to increase our collaboration (between the two countries). We can facilitate the process (on ease of doing business),” he said.

In 2023, total trade between Malaysia and Uzbekistan was RM451.1 million (US$94.03 million), with exports to Uzbekistan amounting to RM449 million (US$93.6 million) and imports amounting to RM1.99 million (US$414,518).

Anwar is currently in Uzbekistan on a three-day official visit that began with his arrival in Tashkent on Friday.

Foreign Minister Datuk Seri Mohamad Hassan, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing and Minister in the Prime Minister’s Department (Religious Affairs) Datuk Mohd Na’im Mokhtar are part of the Malaysian delegation accompanying the prime minister.

Meanwhile, Anwar said Malaysia and Uzbekistan can form special strategic partnerships in new areas, including those related to Muslim interests, and that two Muslim-majority countries could collaborate as a strong team in many areas that have peculiar interests to Muslims.

“Not only cooperation and hospitality on halal development, halal certification and halal industry, but we can also cooperate in arts and culture to a level coordinated by senior ministers (from both countries),” he said. 

Anwar said Malaysia and Uzbekistan could also focus on education and the new field of digital technology, especially artificial intelligence.

“Our future capabilities depend on how we build our strength (together). We should always think we can complement each other,” he said.

— Bernama

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