JEDDAH: The UAE has signed an agreement to expand cooperation in Uzbekistan’s mining sector, as the two countries seek to scale investment, modernize infrastructure and deepen economic ties. 

The memorandum of understanding was signed by Mohamed Hassan Al-Suwaidi, UAE minister of investment, and Jamshid Khodjaev, Uzbekistan’s deputy prime minister, according to the Emirates News Agency, also known as WAM.

The agreement comes amid growing bilateral investment flows. UAE investments in Uzbekistan reached $1.3 billion in 2024, including about $700 million in renewable energy, with more than $4 billion in joint projects currently under development, WAM reported. 

Commenting on the MoU, Al-Suwaidi said that his country and Uzbekistan share a longstanding relationship built on mutual trust and strong economic cooperation. 

“Today’s signing reflects the UAE’s commitment to forging strategic international partnerships in sectors of mutual interest that support sustainable development and long-term economic value creation,” he said.

By working closely with Uzbekistan, he added, the UAE aims to unlock high-quality investment opportunities across the minerals value chain for the benefit of both nations.

The agreement focuses on the development and modernization of key supporting infrastructure, including power generation, renewable energy, grid enhancements, water systems, and logistics networks.

It also aims to advance sector digitalization, innovation, and responsible governance to reinforce long-term resilience and sustainability. 

Under the MoU, cooperation will span investment activities across the full mining value chain, from exploration and development through to downstream manufacturing. 

Khodjaev emphasized that the MoU marks an important step in strengthening cooperation between Uzbekistan and the Gulf state in the minerals sector. 

“Through collaboration on investment facilitation, governance, workforce development, and monitoring frameworks, we aim to support responsible mineral development and create sustainable industrial growth opportunities for both economies,” he said. 

According to WAM, the agreement establishes a collaboration framework involving government and regulatory authorities, state-owned investment companies and private sector partners, enabling the structuring of financing mechanisms such as foreign direct investment and public-private partnerships. 

Uzbekistan’s mining sector is a key economic driver, producing commodities such as gold, copper, uranium, coal, oil, and natural gas, according to the International Trade Administration of the US Department of Commerce. 

The sector is undergoing modernization as the government expands upstream-to-downstream capacity, attracts foreign investment, and upgrades infrastructure through state-owned enterprises while tapping international capital markets.