Kuala Lumpur: All Uzbek and Malaysian companies are urged to forge new collaborations to reap the synergistic opportunities offered by both countries, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. He emphasized that business-to-business (B2B) and government-to-business (G2B) sessions have facilitated discussions on key industries, paving the way for new strategic partnerships.
According to BERNAMA News Agency, Tengku Zafrul announced that several memoranda of understanding (MoUs) were signed between Malaysian and Uzbek entities for promising projects. These projects span various sectors, including electronics and semiconductors, the automotive industry, hydropower and solar energy, the chemical industry, the food industry, and pharmaceuticals, all aimed at facilitating the development and growth of both economies and industries. The announcement was made at the Malaysia-Uzbekistan Business Forum, attended by Prime Minister Datuk Seri Anwar Ibrahim and Uzbekistan’s President Shavkat Mirziyoyev.
Tengku Zafrul highlighted Malaysia’s position as a dynamic hub for manufacturing and services, attributing this to its excellent infrastructure, strong connectivity, and a highly skilled talent pool across various fields. He also expressed satisfaction with the participation of representatives from Malaysia’s small and medium enterprises (SMEs) in the forum, recognizing their essential role as the backbone of the Malaysian economy. Over the years, Malaysian SMEs have enhanced their capabilities, enabling them to become increasingly integrated into global supply chains, offering a wide range of products and services, from manufacturing and technology to agriculture and logistics.
The minister noted that Malaysian SMEs are competitive and capable, making them reliable partners for Uzbek companies in enhancing their supply chain operations, whether for materials sourcing or expanding distribution networks in the region. He also expressed encouragement over the strong interest from Uzbekistan in fostering closer ties with Malaysia across multiple sectors, with the aim of learning from Malaysian experience and expertise to build partnerships for industrial development.
Tengku Zafrul remarked on Uzbekistan’s economic trajectory, highlighting its position as one of the youngest and fastest-growing countries worldwide. With a forecasted gross domestic product growth rate of between 5.5 and 5.8 percent over the next three years and comprehensive reforms aimed at modernizing the economy and improving governance, Uzbekistan is poised for robust expansion.