Uzbekistan's Japanese Business Landscape Expands Tenfold

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, December 19. Over the past eight years, trade turnover between Uzbekistan and Japan has doubled, while the number of Japanese enterprises operating in Uzbekistan has increased tenfold, Trend reports via the press service of the President of Uzbekistan.

The figures were announced during a meeting held by President of the Republic of Uzbekistan Shavkat Mirziyoyev with the heads of leading Japanese companies, financial institutions, and business associations.

The meeting was attended by Japan's Minister of Economy, Trade, and Industry, Ryosei Akazawa, alongside senior executives from major corporations, financial institutions, and banks, including Sojitz, Sumitomo, Toyota, ITOCHU, Mitsubishi, Marubeni, Daito Trust Construction, NEC, SBI Holdings, Ajinomoto, Japan Tobacco, Hitachi, Mitsui, and others.

Furthermore, it was highlighted that, historically, Japanese companies primarily engaged in contractor-based projects. However, this trend has shifted, with Japanese firms now actively investing in Uzbekistan's economy, establishing joint ventures, taking leadership roles in management, transferring advanced technologies, and contributing to the development of local human capital.

As a result of these transformative shifts, Japan has emerged as one of Uzbekistan's most prominent economic and technological partners.

President Mirziyoyev is currently on an official visit to Japan, which runs from December 18 through 20. During this visit, he will participate in the inaugural summit of the Heads of State of the Central Asia + Japan Dialogue. The summit will explore avenues for cooperation in several critical areas, including the green economy, sustainable development, regional interconnectivity, fostering partnerships, and advancing human capital development.

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