(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, December 4. Uzbekistan and the United States engaged in discussions regarding the ongoing digitalization initiatives, reforms within the telecommunications market, and the potential for attracting investment to the sector, Trend reports via the Uzbek Ministry of Digital Technologies.

These issues were addressed during a meeting between Uzbekistan's Minister of Digital Technologies, Sherzod Shermatov, and a delegation led by Mikheil Nibladze, Managing Director for Cerberus' frontier market investment platform of the U.S.-based company.

In the course of the discussions, the company's representatives also shared insights into Cerberus Frontier's cooperation with Unitel Group under Senior's Capital Management, as well as their ongoing projects in Georgia and Mongolia.

Minister Shermatov highlighted Uzbekistan's rapid population growth, favorable conditions created in the IT and telecommunications sectors, tax incentives, and expanding digital infrastructure.

The meeting also included an exchange of views on infrastructure development and the investment opportunities available in the country, including the advantages offered by the IT Park.

In the interim, by the conclusion of 2024, the bilateral trade dynamics between Uzbekistan and the United States experienced a robust uptick of 15 percent, culminating in a trade turnover of $881.7 million. Concurrently, the influx of U.S. direct investment into Uzbekistan aggregated to a substantial $612.6 million. At present, over 300 entities with American investment are functioning within the national landscape, comprising 167 that are wholly owned by U.S. stakeholders.

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