TASHKENT — Saudi Arabia’s Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih on Thursday concluded a two-day official visit to Uzbekistan during which mutually beneficial investment opportunities in key sectors were explored.

Al-Falih led a delegation of more than 60 Saudi government representatives and leading companies from the Saudi private sector, who discussed collaboration in transport, health, agriculture, trade and investments, energy, and petrochemicals.

During the visit, the Minister of Investment joined President of Uzbekistan Shavkat Mirziyoyev for the opening session of the Tashkent International Investment Forum.

He also took the opportunity to stress the many similarities between Saudi Arabia and Uzbekistan, such as clear visions for progress, both nations’ young and dynamic populations and growing roles for the private sector for their respective economies.

Al-Falih also joined Uzbekistan’s Deputy Prime Minister and Minister of Investments and Foreign Trade, as well as the Minister of Agriculture, for the fifth session of the Saudi-Uzbek Joint Committee, where he highlighted the investment opportunities in the Kingdom and rallied support for Riyadh’s candidacy for World Expo 2030.

A Saudi-Uzbek Business Council – a private sector-led forum dedicated to enhancing business and investment relations between the two countries – also convened for a meeting during the trip.

On the occasion, Al-Falih said, “Both of our great nations have embarked on ambitious national economic diversification journeys and expansive programs of reforms. We are now taking our rightful places on the international stage as hubs for trade and investment, offering unique investment opportunities and significant returns for the world’s investors and entrepreneurs. I am convinced that together we can elevate the existing Uzbek-Saudi partnership to an even higher level. We’re excited by the investment potential that Uzbekistan offers and we look forward to helping Uzbek businesses to take advantage of the exciting long-term growth potential of the Saudi market.”

On the sidelines of the visit, Dr. Sulaiman Al Habib Medical Group of Hospitals signed a Memorandum of Understanding with the Ministry of Health in Uzbekistan and the Sovereign Fund for Direct Investment in Uzbekistan. The memorandum aims to transfer skills and digital technologies to Dr. Sulaiman Al Habib Medical Group of Hospitals, with the possibility of operating a multidisciplinary medical complex in the city of Tashkent. — SPA