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Thursday, February 22, 2024

Saudi Arabia & Uzbekistan Hold bilateral Meeting

The sixth session of the Saudi-Uzbek Joint Committee took place in Riyadh, where the Minister of Investment, Khalid bin Abdulaziz Al-Falih, co-chaired alongside Uzbek Deputy Prime Minister Jamshid Khodjaev. The meeting, focused on aligning economic goals, highlighted the harmony between Uzbekistan’s National Development Strategy 2023-2030, Saudi Arabia’s Vision 2030, and the National Investment Strategy.

Minister Al-Falih expressed full support for the Saudi-Uzbek Business Council, emphasizing its pivotal role in uniting the private sectors of both nations. The primary objective was to pinpoint specific areas of collaboration between the two countries. Notably, around 50 potential investment opportunities in Uzbekistan were discussed, totaling approximately $31 billion. These projects are integral to achieving the $110 billion foreign investment target outlined in Uzbekistan’s 2030 strategy.

The meeting addressed various topics related to bilateral cooperation in economic, trade, and investment domains. It delved into promising investment opportunities, assessing the business environment in both nations, and underscored the significance of enhancing collaborative efforts for future partnerships.

Minister Al-Falih highlighted the accomplishments in joint projects and investments across sectors such as energy, renewable energy, health, infrastructure, agriculture, and human resources development. The session concluded with the signing of multiple memoranda of understanding between the private sectors of both countries. Additionally, the minutes of the committee meeting incorporated various joint initiatives and work programs.

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