Saudi Gazette Report

RIYADH — Saudi Minister of Investment Eng. Khalid Al-Falih underlined the need for exploiting the natural resources and reserves possessed by the countries of Central Asia to address the challenges facing countries of the world, especially in the energy field.

The minister said this in his welcoming remarks at the Gulf Cooperation Council and Central Asian Investment Forum in Riyadh on Wednesday. The forum is discussing the ways of enhancing economic cooperation in various sectors and developing investment relations between the countries of the GCC-Central Asian region with the aim of achieving mutual prosperity.

In his speech, Al-Falih highlighted the deep historical and cultural relations between the GCC and Central Asian countries, which paved the way for a strategic investment dialogue and the creation of various channels to increase trade in various sectors and strengthen partnerships.

Al-Falih stated that the Central Asian countries enjoy fertile lands that can be exploited for agricultural development, flowing rivers that can be invested in producing hydroelectric energy, in addition to vast areas that provide promising opportunities for exploiting wind energy.

The Central Asian countries possess natural resources that can be a strong support for sustainable economic growth at the international level and address many global problems, he pointed out, saying: “For example, Kazakhstan, Turkmenistan, and Uzbekistan have large reserves of oil and gas, while Kyrgyzstan and Tajikistan have large reserves of gold and minerals, and Kazakhstan has the largest reserves of uranium in the world, which is an important element in non-carbon energy.”

Al-Falih also called for training 80 million young people from Central Asian countries to contribute to the economic renaissance. “The Russian-Ukrainian crisis constitutes a reason for many of them to return to their countries,” he said while calling on the private sector to begin training and qualifying these cadres to contribute to the unprecedented renaissance witnessed by the Gulf countries.

The GCC and Central Asia Investment Forum, organized by the Ministry of Investment, aims to continue enhancing existing strategic partnerships and supporting efforts to identify and seize opportunities in investment, trade, and economy. The forum will provide an important platform for policymakers, officials, CEOs, and the private sector to exchange experiences, shed light on initiatives and available opportunities to benefit from investment opportunities that will contribute to driving economic growth and enabling creativity and innovation to address various challenges.

The forum will feature promotional presentations, dialogues, and workshops in the areas of renewable energy, petrochemicals, agriculture, food security, industry, healthcare, tourism, logistics services, infrastructure, technology, and digitization