On 25 January, the President of the Republic of Uzbekistan Shavkat Mirziyoyev received the delegation of the Kingdom of Saudi Arabia led by the Minister of Investment Khalid Al-Falih.

The current issues of further strengthening Uzbekistan – Saudi Arabia multifaceted relations were discussed at the meeting.

The President of Uzbekistan emphasized with satisfaction the dynamic development of cooperation in recent years.

Despite the pandemic, an active dialogue continues at the level of government agencies and businesspeople of the two countries. Another evidence of this was the arrival in Uzbekistan of the delegation consisting of the heads of about 30 leading Saudi companies led by the Minister of Investment.

The Minister of Investment Khalid Al-Falih thanked the President of the Republic of Uzbekistan for the warm welcome, conveyed greetings, and best wishes from the King of Saudi Arabia Salman Al Saud and Crown Prince Mohammed Al Saud.

The Minister expressed his sincere gratitude for the support of investment projects of Saudi companies and the created favorable conditions for their productive activities in Uzbekistan.

The day before, a joint business forum was successfully held in Bukhara. A decision was made to establish a Business Council. Agreements were signed on the implementation of large cooperation projects.

Yesterday, an official ground-breaking ceremony for Syrdarya TPP 1200 MW took place with the participation of ACWA Power corporation. Together with this company, wind power plants will be built in Bukhara and Navoi regions with a total capacity of 1000 MW.

The number of joint ventures and projects in Uzbekistan with the participation of Saudi investments has increased significantly over several years.

During the talks, specific projects of practical cooperation were discussed.

Agreements were reached on the preparation and implementation of new projects in the energy, oil and gas, gas chemical and chemical industries, the industrial sector, agriculture, healthcare, and pharmaceuticals, as well as in other areas, including through the implementation of the principles of public-private partnerships.

The main attention was paid to the development of instruments for financial support of joint programs and projects, including the creation of investment companies and microfinance organizations in Uzbekistan.

It was agreed that a roadmap will be adopted and implemented to work out and promote these initiatives. The Intergovernmental Commission will resume its activities, and working groups will be formed on priority projects.

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