Uzbekistan and the KSA: expanding the boundaries of a multifaceted partnership

Deputy Prime Minister of the Republic of Uzbekistan - Minister of Investment and Foreign Trade Jamshid Khojaev held negotiations with Minister of Investment of the Kingdom of Saudi Arabia Khalid Al-Falih in Tashkent on December 23 as part of a visit by the delegation of the Kingdom of Saudi Arabia to Uzbekistan in a narrow format.

Current state and prospects of bilateral trade-economic and investment cooperation have been discussed during the meeting.

The positive experience of ACWA Power, which implements a range of large projects in alternative energy sector in different regions of Uzbekistan, was noted. The sides expressed readiness to render comprehensive support to the company both within the framework of the ongoing projects and during the further implementation of investment initiatives.

Prospects of accelerating the completion of a range of projects in chemical, telecommunications, healthcare, pharmaceutical and banking sectors, agricultural production and retail networks with companies such as Sabiс, Saudi Telecom, Dr Sulaiman Al Habib Group, Jamjoom Pharma, Al Rajhi International and Ajlan & Bros Holding Group, Al Hokair Group and the National Bank of Saudi Arabia have been discussed. The two sides agreed on the need to fully intensify the implementation of projects with the necessary support measures by the governments of both countries.

At the end of the meeting, the participants reaffirmed their mutual commitment to further strengthening investment, trade and economic cooperation and agreed on the format of interaction to ensure timely and full implementation of all the discussed projects and initiatives.