Tashkent, Uzbekistan (UzDaily.com) — A delegation from Uzbekistan’s Ministry of Economy and Finance, led by Deputy Minister and Doctor of Economics Umid Abidkhadjaev, visited the Islamic Development Bank (IsDB) Center of Excellence in Kuala Lumpur, Malaysia. 

The visit focused on opportunities for cooperation in sustainable financing, halal industry development, and the adoption of innovative economic solutions proven effective in Malaysia. 

According to World Bank projections, Malaysia could attain high-income status by 2028 due to its sustainable economic growth and strong national currency. The country’s success, based on innovative economic policies, sustainable development, and efficient governance, serves as a valuable example for Uzbekistan. 

The IsDB Center of Excellence functions as a key platform for sharing Malaysia’s expertise with IsDB member countries, offering Uzbekistan access to advanced solutions and knowledge in several areas: 

Sustainable Financing: Malaysia leads in the development of green and Islamic financial instruments. Its experience in carbon credit trading and financing sustainable projects aligns with Uzbekistan’s goals of advancing a green economy. 

Halal Industry Development: The Center’s expertise in halal certification and ecosystem development opens new avenues for Uzbekistan to enhance competitiveness in food production and pilgrimage tourism. 

Innovative Solutions: Malaysia’s progress in fintech and digital financial technologies provides a model for modernizing Uzbekistan’s financial system, which caters to a predominantly young population. 

During the visit, discussions included professional development programs, halal industry strategies, and the implementation of sustainable financial mechanisms. Both parties emphasized the importance of turning their collaboration into concrete projects that would contribute to Uzbekistan’s economic reforms. 

Leveraging Malaysia’s achievements and the expertise of the IsDB Center of Excellence marks a significant step toward accelerating Uzbekistan’s transition to a diversified, sustainable, and innovation-driven economy.