Uzbekistan and the Saudi Fund for Development Discuss Expanding Bilateral Investment Cooperation

Tashkent, Uzbekistan (UzDaily.com) — On 23 January, Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov held a meeting with Sultan Al-Marshad, Chief Executive Officer of the Saudi Fund for Development, during which the current state of cooperation and prospects for expanding bilateral partnership were discussed.

During the talks, the parties noted that over the years of cooperation the Fund has provided financing for projects in Uzbekistan’s healthcare, education, water supply and irrigation sectors, housing construction, and transport infrastructure.

At present, the joint project portfolio includes 11 projects with a total value of US$287.4 million. In addition, two priority projects are at the preparatory stage: the construction of affordable housing in the Republic of Karakalpakstan and the reconstruction and repair of damaged bridges on national roads, with a combined estimated cost of US$138 million.

At the conclusion of the meeting, both sides confirmed their mutual interest in further deepening the partnership, implementing socially significant initiatives, and expanding cooperation in priority areas in line with Uzbekistan’s national strategic development priorities.