On September 20, Deputy Minister of MIIT, Oybek Khamraev, held a significant meeting with representatives from two prominent Japanese companies, HANWA and Ernst & Young Shinnihon. The primary focus of this meeting was to explore, discuss, and enhance the cooperation between Uzbekistan and Japanese partners in the development of alternative energy sources, with a specific emphasis on attracting direct investments from these companies for solar panel installation projects in Uzbekistan, MIIT of Uzbekistan reported.
During the course of the meeting, both sides engaged in extensive discussions regarding the promising prospects for the development and expansion of collaborative efforts in the realm of alternative energy. This included detailed deliberations on the potential for Japanese companies to invest directly in projects aimed at the installation of solar panels within Uzbekistan.
The foreign representatives from the Japanese companies were provided with comprehensive insights into Uzbekistan's industrial and technological capabilities. They were also briefed on the favorable investment climate within the country, as well as the various incentives and preferences designed to encourage and support business and investment activities, particularly in the energy sector.
The discussions referenced the "Within the framework of the Memorandum of Cooperation on the Joint Credit Facility" a memorandum of cooperation signed between the governments of Uzbekistan and Japan on October 25, 2022. Under the terms of this agreement, Japan's Ministry of Economy, Trade, and Industry allocated $200,000 in subsidies to HANWA for the execution of alternative energy projects in Uzbekistan.
As a culmination of the meeting, both parties reached a mutually beneficial agreement to initiate practical work on a joint project focused on the installation of solar panels within Uzbekistan. This collaboration marks a significant stride toward advancing the utilization of alternative energy sources and underscores the commitment of Uzbekistan and its Japanese partners to promote sustainable and environmentally friendly initiatives.
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)