Tashkent, Uzbekistan (UzDaily.com) -- On 16 May 2024, the Minister of Investment, Industry and Trade, Laziz Kudratov, held online meetings with the heads of Malaysian funds such as Khazanah Nasional, the Malaysian Pension Fund Employees Provident Fund (EPF) as well as representatives of the large company Petronas.

During the meetings, the parties discussed prospects for strengthening bilateral relations in economic, investment and other areas of interaction. Particular attention was paid to the upcoming high-level visit and key areas of cooperation were outlined.

During the negotiations, company leaders emphasized the positive growth of the country’s economy thanks to the ongoing reforms in Uzbekistan, which is important in the formation of trusting relations between companies of the two countries.

The parties also discussed the possibilities of implementing joint investment projects in the fields of finance, energy, and the chemical industry.

Following the meetings, the parties confirmed their readiness to further strengthen trade, economic and investment cooperation through the development of new initiatives, as well as take all necessary measures to increase and diversify mutual trade.

Petronas is a large national oil, gas and chemical company in Malaysia, which is included in the ranking of the 500 largest companies in the world.

The Employees Provident Fund - EPF is one of the oldest employee provident funds in the world. Established in 1951, the fund helps Malaysian workers save for retirement in accordance with the Employees’ Provident Fund Act 1991.

Khazanah Nasional is the sovereign wealth fund of the Malaysian government, mandated to grow the country’s long-term wealth through specific commercial and strategic objectives.