Uzbekistan is examining Malaysia's economic experience at the ADB's Center of Excellence.

According to projections from the World Bank, Malaysia could achieve high-income status by 2028 due to steady economic growth and the strengthening of its national currency. Malaysia's success, rooted in innovative economic policies, sustainable development, and effective governance, serves as an exemplary model for Uzbekistan.

The center acts as a crucial platform for sharing Malaysia's experience with the member countries of the Asian Development Bank (ADB).

Its activities provide Uzbekistan with access to cutting-edge solutions and expert knowledge in the following areas:

• Sustainable financing: Malaysia is a leader in the development of green and Islamic financial instruments. The country’s experience in carbon trading and funding sustainable projects aligns with Uzbekistan's goals for developing a green economy.
• Development of the halal industry: The Center's expertise in certification and the development of the halal ecosystem opens new opportunities for Uzbekistan to enhance competitiveness in the food and pilgrimage tourism sectors.
• Innovative solutions: Malaysia's progress in fintech and digital financial technologies can serve as an important benchmark for modernizing Uzbekistan's financial system, especially considering that a significant portion of its population is youth.

During the meeting, programs for skill enhancement, strategies for developing the halal industry, and the implementation of sustainable financial mechanisms were discussed. Both parties emphasized the importance of transforming cooperation into concrete projects that will contribute to Uzbekistan's economic reforms.

Studying Malaysia's achievements and leveraging the expertise of the ADB's Center of Excellence will be vital steps in accelerating Uzbekistan's transition to a diversified, sustainable, and innovative economy.