Uzbekistan Delegation Participates in Inaugural Turkic Investment Fund Meeting

Istanbul, The Gulf Observer: Yesterday, Laziz Kudratov, Minister of Investment, Industry, and Trade of Uzbekistan, participated in the Inaugural Meeting of the Turkic Investment Fund at the historic Dolmabahçe Palace in Istanbul. The meeting was a significant gathering of high-profile officials, including Baghdad Amreyev, President of the Fund, Cevdet Yılmaz, Vice President of Türkiye, Mehmet Şimşek, Minister of Treasury and Finance of Türkiye, Nurlan Baibazarov, Deputy Prime Minister and Minister of National Economy of Kazakhstan, Elnur Aliyev, First Deputy Minister of Economy of Azerbaijan, among others.

In his opening remarks, Baghdad Amreyev highlighted the strategic importance of establishing the Turkic Investment Fund. He emphasized its role as a crucial mechanism for enhancing reliable investment and economic cooperation among member states. The Fund aims to finance ambitious new projects and private business operations in critical sectors such as transport, energy, tourism, IT, and innovative development.

Laziz Kudratov, in his address, underscored the opportunities that the Turkic Investment Fund brings for the member countries. He noted that the Fund would provide a robust platform for investments and foster the implementation of joint projects. Kudratov expressed optimism that the collaborative efforts and investment initiatives supported by the Fund would yield mutual benefits, stimulating economic growth and improving the well-being of citizens across the region.

The meeting resulted in several key decisions to enhance the Fund’s management efficiency and organizational activities. These included the appointment of representatives to the Board of Directors, setting the terms for remuneration and rotation of management and staff, and the preparation of internal legal acts. Furthermore, participants agreed on measures to activate the Fund’s activities, developed a procedure for making joint decisions, and identified pilot project initiatives.

The establishment of the Turkic Investment Fund marks a pivotal step in deepening economic ties and fostering sustainable development among Turkic countries. The collaborative platform is expected to play a significant role in driving forward innovative and large-scale projects that will contribute to the region’s prosperity.