Tashkent, Uzbekistan (UzDaily.com) —  During a business visit of the Uzbek delegation to Saudi Arabia, the director of IT Park Ventures, Azamat Karamatov, met with ESG EQ Partners LLC.

During the meeting, a memorandum of cooperation was signed between Azamat Karamatov and the regional partner of ESG EQ Partners LLC, Anup Babu. This event marked a significant step in the development of Uzbekistan’s technology sector, opening new opportunities for the country’s startups and tech companies.

ESG EQ Partners LLC, based in Sharjah, UAE, supports businesses, governments, and investors in achieving environmental, social, and governance (ESG) goals, addressing challenges in the global market. The company plans to open an office in Riyadh, Saudi Arabia, which will provide new opportunities for collaboration and growth in the region.

The parties agreed to jointly invest in "green" technologies, focusing on startups related to renewable energy and sustainable development. This partnership will provide Uzbek startups with access to funding and mentorship, as well as create opportunities to enter the markets of the Middle East and North Africa, including Saudi Arabia and the UAE.

Additionally, the parties discussed opportunities for Uzbek startups to receive mentorship, access to global networks, and investment opportunities in the Saudi Arabian and UAE markets.

Under the memorandum, the parties will implement joint programs to support startups and IT Park residents, aimed at providing access to resources, funding, and professional mentorship. Azamat Karamatov emphasized the importance of creating conditions for the successful entry of Uzbek startups into the Saudi Arabian and UAE markets, utilizing the global networks of ESG EQ Partners, which will open new opportunities for business growth and expansion.

The parties also agreed that ESG EQ Partners will provide consulting services to IT Park Ventures on structuring an investment fund to attract foreign investors. This will help create a transparent and effective structure that meets international standards, increasing the trust of foreign investors and providing Uzbek startups with access to international capital, thus ensuring their growth and opportunities for scaling in the global market.

As part of the collaboration, startups and partners of ESG EQ Partners from the MENA region will also receive support in entering the Uzbek market and opening development offices, which will create opportunities for business expansion and the implementation of innovative technologies in Uzbekistan’s rapidly growing ecosystem. This will foster the development of joint projects and the creation of new jobs in the fields of technology and sustainable development.

The signing of the memorandum of cooperation with ESG EQ Partners LLC is an important step in expanding Uzbekistan’s international presence in the global technology arena. These initiatives will open new horizons for Uzbek startups and tech companies and contribute to the development of environmentally friendly and sustainable technologies in the region.