First Deputy Minister of Investments and Foreign Trade of the Republic of Uzbekistan Aziz Kudratov held talks with the Deputy Minister of Investment of the Kingdom of Saudi Arabia Badr Al Badr.

The parties considered ways to strengthen bilateral trade-economic and investment cooperation, as well as the implementation of agreements on the implementation of projects reached following the high-level visit to Saudi Arabia, held in August this year.

According to the Ministry of Investments and Foreign Trade of Uzbekistan, views on the prospects of investment interaction between the two countries were exchanged. To date, 38 enterprises are operating in Uzbekistan with the participation of the capital of the Kingdom of Saudi Arabia. Over the past five years, their number has increased almost fivefold. ACWA Power is implementing five projects in Uzbekistan worth more than $4 billion and a design capacity of more than 4.1 gigawatts. Therefore, the parties agreed to accelerate the implementation of a new investment program consisting of projects in the energy sector, programs to increase the use of renewable energy sources.

The current state of project implementation with Sabic, Dr. Sulaiman Al-Habib Medical Group, Al Rajhi International, Ajlan & Bros, Al Hokair Group, Jamjoom Pharma was analyzed in detail. Mutual readiness was expressed to step up efforts to actively implement existing agreements.

 Roman Bondarchuk, UzA