Meeting between the Ministry of Investment of Saudi Arabia and the Ministry of Investment and Foreign Trade of Uzbekistan

On February 27, 2022, the Deputy Prime Minister of the Republic of Uzbekistan - Minister of Investment and Foreign Trade Sardor Umurzakov and the Minister of Investment of Saudi Arabia Khalid al-Falih held a video conference.

The sides canvassed issues of bilateral investment and commercial and economic cooperation, as well as the implementation of agreements attained during the visit of a delegation of the Government of the Republic of Uzbekistan to Saudi Arabia in May previous year.

The idea of attracting further Saudi investment in the sphere of energy and energy infrastructure development was given special consideration. It was observed that the Saudi company ACWA POWER, which is implementing projects worth around $ 3 billion in Uzbekistan, holds a prominent role in this respect.

The Saudi side stated its commitment to collaborate closely with Uzbekistan in order to attract investment in new projects in agriculture, chemistry and petrochemistry, as well as metallurgy.

This year, it was planned to organize a joint meeting of the business community of the two countries, a joint meeting of the Business Council of the two countries, as well as the organization of an exhibition of Uzbek local products "Made in Uzbekistan" in Riyadh and Jeddah.

During the meeting, the sides addressed issues of boosting mutual tourist flows through the establishment of regular direct flights between the two countries.

At the end of the event, the next practical steps were taken to further accentuate the cooperation in priority areas.