In a significant meeting that highlights the robust economic collaboration between Uzbekistan and Saudi Arabia, President Shavkat Mirziyoyev welcomed Muhammad Abunayan, co-chairman of the Uzbek-Saudi Business Council and chairman of ACWA Power.
Strengthening Ties with Saudi Arabia
The discussion centered around deepening practical cooperation with Saudi Arabia’s leading companies and evaluating the progress of joint investment endeavors. President Mirziyoyev praised the exceptional partnership with ACWA Power, underscoring its pivotal role in advancing Uzbekistan’s energy sector. The combined portfolio of current and future projects with ACWA Power is valued at over $17 billion, a testament to the strong mutual commitment.
Expanding Opportunities for Saudi Investments
The meeting also highlighted the importance of attracting more Saudi enterprises to Uzbekistan through the Business Council’s initiatives. There is a concerted effort to expedite joint projects in diverse sectors, including airport construction and management, digital and energy infrastructure upgrades, heat supply network expansion, waste management, pharmaceutical manufacturing, and the establishment of oncology clinics.
Diverse Sectors and Future Prospects
Additional areas of focus include developing a tourist center, a textile cluster, and enhancing agricultural practices such as greenhouse and livestock farming. These initiatives are designed to create a multifaceted investment landscape, offering abundant opportunities for Saudi investors to partake in Uzbekistan’s growth journey.
As the partnership between Uzbekistan and Saudi Arabia continues to flourish, both nations are poised to achieve remarkable milestones in economic development and innovation.
