The Saudi-Uzbek Joint Committee held its sixth meeting in Riyadh, chaired by the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, from the Saudi side, and the Deputy Prime Minister, Mr. Jamshid Khodjaev, from the Uzbek side.
As part of the meeting, several memorandums of understanding (MoUs) were signed between the private sectors of the two countries, and the minutes of the sixth committee meeting included multiple joint initiatives and work programs.
During the Saudi-Uzbek Joint Committee’s sixth meeting, the Saudi Minister of Investment emphasized the compatibility of economic goals through Uzbekistan’s National Development Strategy 2023-2030, the Kingdom’s Vision 2030, and the National Investment Strategy.
The Saudi Minister also pledged full support for the efforts of the Saudi-Uzbek Business Council, which plays a crucial role in bringing together the private sectors of both countries. The meeting aimed to identify specific areas of cooperation between the two countries.
Al-Falih pointed out that “the gathering would discuss around 50 potential investment opportunities worth approximately $31 billion in Uzbekistan. These projects aim to achieve the target of $110 billion in foreign investments within the goals of the Uzbekistan 2030 strategy.”
The meeting tackled several topics related to bilateral cooperation in the economic, trade, and investment fields. It also reviewed the promising investment opportunities between the two countries and the business environment in both nations and emphasized the importance of strengthening joint work for future partnerships.
Both sides praised the achievements of launching joint projects and investments in the energy sector, renewable energy, health, infrastructure, agriculture, and human resources development, as per the statement.
