Uzbekistan – Saudi Arabia: A new stage of investment diplomacy and geo-economic strategy
President Shavkat Mirziyoyev’s meeting, devoted to reviewing the implementation of major investment projects with Saudi Arabia, was a clear manifestation of economic diplomacy, a key area of modern foreign policy.
The projects discussed at the meeting in strategic areas such as infrastructure, energy, healthcare, and information technology indicate a desire to accelerate Uzbekistan’s integration into the global economic system.
The dialogue participant, Mohammad Abunayyan, Founder and Chairman of the Board of Directors of ACWA, is one of the largest investors in global energy and water resources. With 40 years of experience, he plays a significant role in developing projects in renewable energy, water desalination, and green hydrogen. His company operates in the Middle East, Africa, and Central Asia, implementing energy projects worth billions of dollars. In Uzbekistan, ACWA Power is one of the key investors in green energy and infrastructure projects.
Saudi Arabia is a major capital exporter and an economic center, while Uzbekistan is an emerging market in need of investment, creating a mutually beneficial model of cooperation. This process contributes to strengthening the country’s multi-vector foreign policy strategy. In other words, the country is striving for geo-economic diversification, expanding cooperation not only with traditional partners but also with countries in the Middle East. This cooperation is of great economic and political importance. In particular, attracting foreign investment in strategic industries indicates a transition from a closed model of government management of the economy to a more open, hybrid system. This reflects a course toward liberalizing the economy and deepening international integration. At the same time, such meetings are important from the point of view of domestic policy, as they demonstrate economic growth, acceleration of investment flows, and job creation.
Gavharshodbegim Kholmatova,
Basic doctoral student at the International Relations Department,
Tashkent State University of Oriental Studies
