Saudi Gazette report

RIYADH — The Saudi-Uzbek Joint Committee has held its 6th meeting in Riyadh, headed by Saudi Arabia’s Minister of Investment Eng. Khalid Al-Falih and Deputy Prime Minister of Uzbekistan Jamshid Khodjaev.

During the sixth meeting, Al-Falih pointed out the clear compatibility of economic ambitions through Uzbekistan’s National Development Strategy 2023-2030, Saudi Arabia’s Vision 2030, and the National Investment Strategy.

The Saudi minister also confirmed full support for the Saudi-Uzbek Business Council, which continues to play a pivotal role in bringing together the private sectors in the two countries.

The 6th meeting of the Saudi-Uzbek Joint Committee highlights specific fields of cooperation between the two countries, he said.

Al-Falih indicated that the meeting would discuss 50 proposed investment opportunities worth approximately $31 billion in Uzbekistan.

These opportunities and investments will contribute in achieving the target of $110 billion in foreign investments within the goals of Uzbekistan’s 2030 strategy, he said.

The meeting also touched upon a number of topics related to developing bilateral cooperation in the economic, trade and investment fields.

This is in addition to reviewing the promising investment opportunities between the two countries, and the business environment in Saudi Arabia and Uzbekistan.

Moreover, the meeting confirmed the importance of enhancing joint work and advancing relations toward new and promising horizons.

This is in addition to strengthening the economic and social partnership between the two countries and transferring it to a broader scope.

It is also important to continue work to empower partnership between the private sectors, encourage mutual investments, enhance trade exchange, and be keen to overcome any challenges facing the development of economic relations between the two countries.

The two sides commended the achievements accomplished such as launching joint projects and investments in the sectors of energy, renewable energy, health, infrastructure, agriculture, and human resources development.

At the conclusion of the meeting, the minutes of the 6th meeting of the Saudi-Uzbek Joint Committee were signed, which included many joint initiatives and work programs.

The meeting also witnessed the signing of a number of memorandums of understanding between the private sectors in Saudi Arabia and Uzbekistan.