Opportunities for deepening investment cooperation with Saudi Arabia discussed

Tashkent, Uzbekistan (UzDaily.com) -- On 5 August this year, expanded negotiations were held via videoconference between the Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjaev and the Minister of Investments of the Kingdom of Saudi Arabia Khalid al-Falih. Heads of interested ministries, departments, industry associations and commercial banks attended the event.

During the talks, the parties substantively reviewed the progress of investment cooperation in the context of industries, and also discussed the prospects for deepening it through the implementation of new promising projects.

In particular, there was an exchange of project proposals in the chemical industry - for the production of polymers and plastics.

Significant prerequisites for the development of investment partnerships in the energy sector were emphasized, due to its large investment and technological potential, as well as the successful experience gained by the Saudi company ACWA Power in Uzbekistan.

The parties paid special attention to agriculture: projects involving the creation of livestock complexes, enterprises for growing and processing fruits, sesame and other crops with the prospect of exporting finished products, including to the Saudi Arabian market, aroused mutual interest.

The healthcare sector is also of particular interest: it is proposed to implement projects to introduce digital technologies in the management of medical institutions, organize the production of popular pharmaceuticals, improve the skills of doctors and medical staff in Uzbekistan, and also to create multidisciplinary medical complexes in the country with the involvement of advanced technologies from Saudi Arabia.

The Saudi side announced that in the near future the heads of relevant departments and companies will consider and work out all the discussed project proposals, following which further steps will be determined for their further promotion. In this regard, the parties also agreed to develop and approve a Roadmap for the practical implementation of the investment projects under consideration