Tashkent, Uzbekistan (UzDaily.uz) — Ferghana Region plans to expand investment cooperation with Saudi Arabia and attract new projects in industry, energy, infrastructure and other sectors.
The prospects for cooperation were discussed by Ferghana Region Governor Khayrullo Bozorov and Saudi businessman Mohammed Abunayyan at a meeting in Riyadh.
The talks took place during Bozorov’s working visit to Saudi Arabia. Uzbekistan’s Ambassador to the Kingdom, Nodirjon Turgunov, and representatives of the business community also attended.
Abunayyan is co-chairman of the Uzbek-Saudi Business Council and chairman of the boards of Acwa and Vision Invest.
The sides discussed promising investment initiatives, opportunities to implement joint projects and ways to make effective use of Ferghana Region’s economic potential.
Bozorov noted that cooperation between Uzbekistan and Saudi Arabia has expanded in recent years across energy, industry, infrastructure and healthcare.
He cited the construction of an 800-bed multidisciplinary hospital in Ferghana Region under a public-private partnership as one of the outcomes of this cooperation.
Participants said the international experience of companies led by Abunayyan, combined with Ferghana Region’s economic potential, offered opportunities to develop further mutually beneficial projects.
Saudi Arabia’s Abunayyan Holding, founded in 1950, operates in energy, water supply, oil and gas, chemicals and transport. Headquartered in Riyadh, the holding comprises 14 strategic business units.
Acwa is among the major Saudi investors in Uzbekistan’s economy. The company is involved in the construction of gas-fired, solar and wind power plants, the deployment of energy storage systems and the development of renewable energy.
According to the figures provided, Acwa’s total implemented and planned investment in 19 projects in Uzbekistan has reached US$15 billion.
Following the talks, the sides stressed the need to intensify contacts between Ferghana Region and Saudi business circles, develop new investment proposals and turn existing agreements into concrete projects.
