Tashkent, Uzbekistan (UzDaily.com) -- On 24 May 2019, Tashkent hosted the Uzbek-Singapore business forum as part of the state visit of the President of the Republic of Singapore, Halimah Yacub, aimed at comprehensively strengthening business ties between entrepreneurs of the two countries.

Within the framework of the forum, a Memorandum of Understanding was signed between the Chamber of Commerce and Industry of Uzbekistan and the Singapore Business Federation in order to develop and strengthen mutually beneficial cooperation.

The business forum was attended by President of the Republic of Singapore Halimah Yacub, Deputy Prime Minister of the Republic of Uzbekistan Jamshid Khodjaev, heads of relevant ministries and departments, industry associations of the two countries and heads of such large companies as Meinhardt, PSA International, Wilmar International, Changi International Airport, EINZ Engineering & Construction, Lazada Group, MSI Global, Engarde Ventures, TMC.

The positive dynamics of foreign trade between Singapore and Uzbekistan was noted, the volume of which has increased several times since the beginning of the year. Cooperation in the field of investment interaction and industrial cooperation is being increased. The number of joint ventures with Singaporean capital has increased 3.5 times over the past seven years.

With the largest Singaporean companies, joint projects are being implemented and developed in the field of "green" energy, agriculture, pharmaceutical industry, education, tourism, infrastructure development and privatization of assets of state-owned companies.

Addressing the representatives of the business community, the distinguished guests confirmed the readiness of government circles to provide comprehensive support for the implementation of joint projects and initiatives and called on the heads of companies and corporations to expand cooperation and conclude new mutually beneficial contracts and agreements.

The event also included panel discussions on the development of partnerships in education, transport, urban planning, and finance.