The President spoke in favor of expanding the Uzbek-Saudi business partnership

On October 15, President of the Republic of Uzbekistan Shavkat Mirziyoyev held a meeting with the heads of leading Saudi Arabian companies.

The event was attended by the Kingdom’s Minister of Investment Khalid Al-Falih, heads of prominent companies and corporations, including Acwa Power, Al Muhaidib Group, Vision Invest, Data Volt, Riyadh Cables, AlMajdiah, InterHealth, Saudi Tabreed, AlBawani Holding, Miahona, Pemco, and many others.

At the beginning of the meeting, the Head of our state emphasized that thanks to the joint efforts of the leaders of the two countries in recent years, Uzbek-Saudi relations of multifaceted partnership have reached the highest level.

The total portfolio of joint projects has exceeded $27 billion. Since the beginning of this year alone, $2 billion in Saudi investments have been developed in our country. The volume of mutual trade is growing steadily. The frequency of flights has exceeded 60 times a week.

We highly appreciate the significant contribution of our Saudi partners to the economic transformation and development of Uzbekistan, — emphasized the president.

The Uzbek leader then outlined priority areas for further cooperation, noting the particular importance of projects in the energy sector. Today, ACWA Power is implementing projects worth $15 billion in our country, including the construction of wind and solar power plants in the regions and the development of green hydrogen.

It was noted that Uzbekistan has significant reserves of tungsten, molybdenum, magnesium, lithium, graphite, titanium, and other strategically important minerals. It is planned to create a “Technopark of Metals of the Future” in Tashkent and Samarkand regions, where the production of high value-added products will be established.

In this regard, our country’s leader invited Saudi investors to actively participate in full production cycle projects – from geological exploration and raw material extraction to processing and finished product manufacturing.

In the field of infrastructure, successful cooperation has been noted with Miahona on wastewater treatment projects in Fergana and Jizzakh, development of water supply systems, and modernization of pumping stations in Karakalpakstan. Agreements have also been reached with Saudi Tabreed company on the development of the utilities sector.

In turn, representatives of Saudi Arabia’s leading business circles, highly appreciating the economic policy, sustainable growth, and favorable investment climate of New Uzbekistan, announced plans to further deepen mutually beneficial partnership and promote specific projects and programs in our country.

Recall that the president discussed safety measures for pilgrims in Saudi Arabia. The Minister of Hajj and Umrah presented the head of state with a portion of the Kaaba Kisva’s sacred covering.