KHIVA- The Uzbekistan-Malaysia Business Forum, held on 25 September 2024, marked a significant event with the participation of 35 Malaysian business leaders who met with their counterparts in Khiva, Uzbekistan, to explore business opportunities and the potential of the Khorezm region. With a vast area of over 63,000 square kilometers, Khiva is a world-renowned tourist destination, offering an open-air museum under the sky and showcasing the beauty of Islamic architecture.
Apart from tourism, Khorezm’s main economic activities include agriculture, cotton production, textiles, and heavy industries, with international trade reaching up to USD 871 million in 2023. Khiva also offers a free economic zone to attract new investments, supported by various government incentives. The central and local governments have streamlined logistics and land provision processes for development purposes through one-stop service centers and the availability of banking facilities.
The spokesperson for the program organizer, the Malaysia Uzbekistan Business Alliance (MUBA), Dato’ Sohaimi Shahadan, highlighted that Uzbekistan’s government efforts have paved the way for more Malaysian investors to expand their businesses in Uzbekistan. He expressed his hopes that more investments can also be brought back to Malaysia. In line with this, the Secretary-General of MUBA hopes that more business leaders will join future forums to explore available opportunities.
The Chairman of MUBA, Dato’ Seri King Lim, envisions this Forum as a catalyst for the economic growth of both Malaysia and Uzbekistan, contributing to Malaysia’s development in terms of raw material supplies and Gross Domestic Product (GDP). He hopes that the Forum can become an annual event with the involvement of more Malaysian government agencies. -MalaysiaGazette
