Tashkent, Uzbekistan (UzDaily.com) -- On 23 December, Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjaev held a meeting with the heads of more than 30 leading Saudi companies, such as ACWA Power, Dr. Sulaiman Al-Habib Medical Group, SABIC, Al Rajhi International, Jamjoom Pharma, Fawaz Al Hokair Group, Seera Group and others staying in Tashkent as part of the visit of the delegation of the Kingdom of Saudi Arabia to the Republic of Uzbekistan.

The meeting was also attended by Minister of Investments of the Kingdom of Saudi Arabia Khalid al-Falih, heads of ministries, departments, industry associations of the two countries.

During the conversation, which was held in the spirit of mutual trust and openness, representatives of the business circles of Saudi Arabia were provided with information about the favorable investment conditions created in Uzbekistan in recent years. It was about protecting the rights of investors, creating the necessary infrastructure, transforming the banking sector, large-scale privatization, opening up opportunities for exporting to regional markets in the free trade regime and the EU markets on a GSP + preferential basis.

During the talks, issues of current cooperation, the potential for its expansion in the near future, as well as details of the implementation of joint projects and initiatives were discussed.

The willingness of the government of Uzbekistan to provide comprehensive support at all stages of the implementation of investment projects was expressed - from the joint development of pre-project documentation to the commissioning of facilities.

In turn, Saudi businessmen highly appreciated the investment climate in Uzbekistan, the legislative framework for the protection of foreign investment. Readiness was voiced to continue a constructive dialogue with Uzbek colleagues as part of the development of promising investment projects.

During the conversation, KSA entrepreneurs were able to ask their questions regarding the financial, technical and legal aspects of investing in Uzbekistan, to which they received comprehensive answers.

Following the meeting with representatives of the Saudi business community, a format for further dialogue was developed in order to effectively coordinate bilateral cooperation with reaching firm trade agreements and contracts.