Mirziyoyev receives Saudi delegation

President of Uzbekistan Shavkat Mirziyoyev today, on October 15, received Khalid Al-Falih, Minister of Investment of the Kingdom of Saudi Arabia, who arrived in the country at the head of a high-level delegation comprising leaders of major Saudi companies. The presidential press service reported the news.

At the beginning of the meeting, the distinguished guest conveyed the greetings and best wishes of King Salman bin Abdulaziz Al Saud and Crown Prince and Prime Minister Mohammed bin Salman Al Saud to the head of state. The parties discussed pressing issues concerning the expansion of Uzbekistan–Saudi Arabia multifaceted cooperation and large-scale partnership within the framework of high-level agreements.

It was noted with great satisfaction that the productive cooperation between Uzbekistan and Saudi Arabia continues to develop rapidly. Contacts at all levels have intensified, while mutual trade turnover, direct investments, and the number of joint ventures are steadily increasing. The frequency of flights between the two countries has also grown.

The portfolio of joint projects has reached $27 billion. In cooperation with ACWA Power, a number of major projects worth $15 billion are being implemented in the energy sector. The productive outcomes of the recent meetings of the Intergovernmental Commission and the Business Council held in Tashkent were highly valued, during which new agreements and contracts were signed.

Special attention was given to the accelerated implementation of projects and initiatives in green energy, agriculture, electrical engineering, real estate, infrastructure modernization across Uzbekistan’s regions, and other priority areas.

President Shavkat Mirziyoyev also held a meeting with the heads of leading Saudi companies. The event was attended by the Kingdom’s Minister of Investment, Khalid Al-Falih, as well as representatives of ACWA Power, Al Muhaidib Group, Vision Invest, Data Volt, Riyadh Cables, AlMajdiah, InterHealth, Saudi Tabreed, AlBawani Holding, Miahona, Pemco, and other major companies and corporations.

At the beginning of the meeting, President Shavkat Mirziyoyev emphasized that, thanks to the joint efforts of the leaders of both countries, Uzbekistan–Saudi Arabia multifaceted partnership relations have reached a new, high level in recent years. The total portfolio of joint projects has exceeded $27 billion, while $2 billion in Saudi investments have been utilized in Uzbekistan since the beginning of this year. Mutual trade turnover continues to grow steadily, and the number of weekly flights between the two countries has surpassed 60.

It was stated that a historic project, the construction of the new Tashkent International Airport, a vivid example of the productive and long-term cooperation between the two nations, is set to begin with a groundbreaking ceremony.

’’We always highly value our Saudi partners who make a great contribution to Uzbekistan’s economic transformation and development,’’ the President stated.

The President then outlined the priority areas for further developing bilateral cooperation, emphasizing the special importance of projects in the energy sector. He noted that ACWA Power is currently implementing projects in Uzbekistan worth $15 billion, including the construction of wind and solar power plants in various regions and the development of green hydrogen initiatives. The President stressed that the broad use of locally produced materials and equipment in such projects contributes significantly to the growth of the country’s industrial potential.

Special attention was also given to strengthening cooperation in information technology and artificial intelligence. The company Data Volt is successfully implementing a project to establish a modern data center in Tashkent. Uzbekistan expressed its readiness to support the construction of similar centers in New Tashkent and Bukhara, as well as to expand Saudi companies’ participation in digital initiatives.

It was also noted that Uzbekistan possesses significant reserves of strategic minerals such as tungsten, molybdenum, magnesium, lithium, graphite, and titanium. A ’’Future metals technopark’’ will be established in the Tashkent and Samarkand regions to produce high-value-added industrial products.

In this regard, the President invited Saudi investors to take an active part in all stages of cooperation, from geological exploration and raw material extraction to processing and finished product manufacturing.

In the field of infrastructure, successful cooperation is already underway with Miahona on projects to treat wastewater in Fergana and Jizzakh, as well as to improve water supply systems and modernize pumping stations in Karakalpakstan.

Agreements have also been reached with Saudi Tabreed to develop urban utility infrastructure.

The President encouraged Saudi companies to participate more actively in new, mutually beneficial projects aimed at modernizing infrastructure and improving the quality of life for the population.

For their part, representatives of Saudi Arabia’s leading business circles praised New Uzbekistan’s economic policy, sustainable growth, and favorable investment climate, expressing their commitment to deepening mutually beneficial cooperation and advancing concrete projects and programs.