Hala El-Saeed, Minister of Planning and Economic Development and Governor of Egypt at the Islamic Development Bank Group (IsDB) met with Umurzakov Sardor Uktamovich, Deputy Prime Minister for Investments and Foreign Economic Affairs and Minister of Investments and Foreign Trade of Uzbekistan.
The meeting came on the sidelines of the 46th annual meeting of the Bank Group, held in Tashkent, Republic of Uzbekistan, to explore opportunities for cooperation between the two countries.
During the meeting, Hala El-Saeed, Minister of Planning and Economic Development emphasized the remarkable progress in relations between Egypt and Uzbekistan over the past years, especially during the visit of the Egyptian President to Uzbekistan in 2018.
El-Saeed’s visit came during unprecedented challenges at the global, regional, and local levels, with the spread of the novel coronavirus, and its massive health, economic, and social effects, which led to a significant decrease in the volume of foreign trade and a sharp decrease in foreign investments.
El-Saeed praised the commitment of the Ministry of Investment and Foreign Trade of Uzbekistan to developing and implementing a unified government investment policy in the fields of foreign trade and international economic cooperation, as well as its role in leading cooperation with international financial institutions and foreign government financial organizations.
She referred to the multiple opportunities for investment cooperation between the two countries and the possibilities of exchanging experiences, especially in attracting foreign direct investment and the participation of the private sector.
El-Saeed explained the role of the Egyptian Ministry of Planning in taking over planning efforts for sustainable economic development at the national level, managing public investments, and formulating a national investment plan.
The Egyptian Minister highlighted the ministry’s success in automating the stages of preparing the national investment plan by adopting the “Integrated System for Preparing and Following up the Investment Plan.”
