A meeting took place at the Uzbekistan Embassy involving Ahmed Zeidan, the founder of Arab Nihol Investors, a prominent Uzbek-Egyptian joint venture. The focal point of discussion revolved around a substantial project slated for the construction of a tourist complex in the picturesque Urgut district of the Samarkand region, with an estimated investment of $100mn.
Strategic Investment Interest
Ahmed Zeidan expressed robust interest in participating in this ambitious venture, which is envisioned to unfold across three distinct stages. The initial phase is set to witness the construction of a state-of-the-art cable car, followed by the development of a contemporary hotel in the subsequent stage, and culminating with the establishment of a comprehensive sanatorium in the final phase.
Expansive Project Scope
Spanning an impressive total area of 42 hectares, the proposed tourist complex holds substantial promise for bolstering the region's tourism infrastructure. To fully materialize the project's vision, an additional 1000 hectares of land will be requisitioned, paving the way for the seamless integration of diverse amenities and attractions. Notably, the venture aims to attract investors from Egypt, Oman, and various other countries to contribute to its realization.
Economic Stimulus and Job Creation
The development of the tourist complex is anticipated to serve as a significant economic catalyst, with projections indicating the creation of approximately 500 new employment opportunities. This infusion of job opportunities stands to invigorate local economies and contribute to the overall socioeconomic development of the region.
Ongoing Collaboration
Following extensive deliberations, both parties have agreed to uphold consistent communication channels between the investor and relevant governmental organizations and departments of Uzbekistan. This commitment to ongoing dialogue underscores a shared dedication to fostering a conducive environment for the successful execution of the project and ensuring seamless coordination at every stage of its development.
Earlier, it was reported that representatives from Uzbekistan's Embassy in Egypt engaged in discussions with the management of "HyperOne," Egypt's foremost hypermarket chain to explore avenues for importing Uzbek goods into Egyptian markets.
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