On February 27, the Ambassador of Uzbekistan Ravshan Usmanov held negotiations with the Regional Head of the Islamic Corporation for the Development of the Private Sector (ICD) in Malaysia, Ahmed Khalid. Issues of further development of mutually beneficial trade-economic and investment cooperation between the two countries were discussed.
The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution and is part of the Islamic Development Bank (IsDB) Group. ICD was established in November 1999 to support the economic development of its member countries through the provision of finance for private sector projects, promoting competition and entrepreneurship, providing advisory services to the governments and private companies and encouraging cross border investments.
The Malaysian side highly appreciated the ongoing reforms in Uzbekistan on liberalizing the economy and monetary policy, improving the business climate, including favorable conditions created for doing business in the country. Ahmed Khalid noted that today the interest of Malaysian companies in establishing business contacts with Uzbekistan partners has grown substantially.
Following the negotiations, agreements were reached on participation of ICD leadership in the upcoming international investment forum in Khorezm region on April 5-6, as well as financing promising investment projects implemented by Malaysian companies in Uzbekistan worth up to 50 million USD.
