President of Uzbekistan Advocates Further Expansion of Uzbek-Saudi Business Partnership

Tashkent, Uzbekistan (UzDaily.com) — On 15 October, President of the Republic of Uzbekistan Shavkat Mirziyoyev held a meeting with leaders of leading Saudi Arabian companies.

The event was attended by Saudi Arabia’s Minister of Investment Khalid Al-Falih, as well as heads of major corporations including Acwa Power, Al Muhaidib Group, Vision Invest, Data Volt, Riyadh Cables, AlMajdiah, InterHealth, Saudi Tabreed, AlBawani Holding, Miahona, Pemco, and many others.

At the outset, the President emphasized that, thanks to the joint efforts of the leadership of both countries over recent years, Uzbek-Saudi relations have reached the highest level of comprehensive partnership.

The total portfolio of joint projects exceeds US$27 billion, with US$2 billion in Saudi investments already implemented in Uzbekistan this year alone. Mutual trade volumes continue to grow steadily, and the frequency of flights between the two countries now exceeds 60 per week.

It was also highlighted that a historic milestone will be laid today—the foundation stone of the new Tashkent International Airport, which will serve as yet another testament to the fruitful and long-term partnership between the two countries.

“We highly value the significant contribution of our Saudi partners to the economic transformation and development of Uzbekistan,” the President emphasized.

The President then outlined priority areas for further cooperation, noting the strategic importance of energy projects. ACWA Power is currently implementing projects in Uzbekistan worth US$15 billion, including the construction of wind and solar power plants across regions and the development of green hydrogen. The extensive use of locally produced goods in these projects will provide additional momentum to the development of the country’s industrial potential.

Special attention was also given to strengthening cooperation in information technology and artificial intelligence. Data Volt is successfully implementing a project to establish a modern data center in Tashkent, with commitments to support similar centers in New Tashkent and Bukhara, as well as involvement of other Saudi companies in digital initiatives.

Uzbekistan possesses significant reserves of tungsten, molybdenum, magnesium, lithium, graphite, titanium, and other strategically important minerals. Plans are underway to establish a “Metals of the Future Technopark” in Tashkent and Samarkand regions, where high value-added products will be produced. The President invited Saudi investors to actively participate in projects encompassing the full production cycle—from exploration and raw material extraction to processing and finished goods production.

In infrastructure, successful cooperation with Miahona on wastewater treatment projects in Fergana and Jizzakh, as well as the development of water supply systems and modernization of pumping stations in Karakalpakstan, was highlighted. Agreements have also been reached with Saudi Tabreed on the development of municipal services.

The President encouraged Saudi companies to actively engage in new mutually beneficial projects aimed at modernizing infrastructure and improving the quality of life for the population.

In turn, the Saudi business leaders, highly appreciating Uzbekistan’s economic policy, stable growth, and favorable investment climate, shared plans to further deepen mutually beneficial partnership and advance concrete projects and programs in the country.