The event was attended by Khalid Al-Falih, Minister of Investment of the Kingdom of Saudi Arabia, as well as the heads of leading companies and corporations, including ACWA Power, Al Muhaidib Group, Vision Invest, Data Volt, Riyadh Cables, AlMajdiah, InterHealth, Saudi Tabreed, AlBawani Holding, Miahona, Pemco, and several others.
The President emphasized that, thanks to the joint efforts of the leaders of both countries, a multifaceted partnership between Uzbekistan and Saudi Arabia has reached a remarkably high level in recent years.
The total portfolio of joint projects has exceeded $27 billion, with $2 billion in Saudi Arabian investments already utilized in Uzbekistan since the beginning of this year. The volume of mutual trade continues to grow steadily, and the frequency of air flights between the two countries now exceeds 60 per week.
Today marks the groundbreaking ceremony for a historic project – the construction of a new international airport in Tashkent, which will serve as another symbol of the fruitful and long-term partnership between Uzbekistan and Saudi Arabia.
“We highly value the significant contribution of our Saudi Arabian partners to the economic transformation and development of Uzbekistan”, the President emphasized.
The Leader of Uzbekistan then outlined the priority areas for further cooperation, stressing the special importance of projects in the energy sector.
Currently, ACWA Power is implementing projects in Uzbekistan worth $15 billion, including the construction of wind and solar power plants across the regions and the development of green hydrogen production.
The extensive use of domestically produced materials and equipment in the implementation of such projects, the President noted, will give an additional boost to the country’s industrial potential.
Special attention was given to strengthening cooperation in the fields of information technology and artificial intelligence. The company Data Volt is successfully implementing a project to establish a modern data center in Tashkent. Readiness was expressed to support similar initiatives in New Tashkent and Bukhara, as well as to encourage the participation of other Saudi Arabian companies in digital projects.
It was noted that Uzbekistan possesses substantial reserves of tungsten, molybdenum, magnesium, lithium, graphite, titanium, and other strategically essential minerals. Plans are underway to establish a Metals of the Future Technopark in Tashkent and Samarkand regions, which will focus on the production of high-value-added goods.
In this regard, the President of Uzbekistan invited Saudi Arabian investors to take an active part in projects involving the whole production cycle – from geological exploration and raw material extraction to processing and manufacturing of finished products.
In the field of infrastructure, successful cooperation was highlighted with Miahona, which is implementing projects on wastewater treatment in Fergana and Jizzakh, as well as developing water supply systems and modernizing pumping stations in Karakalpakstan.
Agreements were also reached with Saudi Tabreed on developing the public utilities sector.
The President invited Saudi Arabian companies to participate in new, mutually beneficial projects that aim to modernize infrastructure and improve the population’s quality of life.
In turn, representatives of Saudi Arabia’s leading business circles, highly appreciating the economic policy, sustainable growth, and favorable investment climate of New Uzbekistan, expressed their commitment to deepening mutually beneficial cooperation and advancing specific projects and programs in the country.
