Saudi, Uzbekistan enhance bilateral ties by exploring new ways of Investment

By Salma C, Intern Reporter
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Saudi delegation led by Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih in Uzbekistan

Saudi Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih has concluded a two-day official delegation visit to Uzbekistan to explore mutually beneficial investment opportunities in key areas.

Led by Minister Eng. Al Faleh, the delegation of more than 60 Saudi government officials and leading Saudi private sector companies discussed cooperation in the fields of transport, health, agriculture, trade, investment, energy and petrochemicals.

During the visit, the Saudi Minister of Investment addressed the inaugural session of the Tashkent International Investment Forum with the President of Uzbekistan, Mr. Shavkat Mirziyoyev.

The Minister emphasized on the many similarities between Saudi Arabia and Uzbekistan, including clear visions for progress, the young and dynamic population of both countries, and the growing roles of the private sector for their respective economies.

In addition, the Saudi Minister held talks with the Deputy Prime Minister, Minister of Investment and Foreign Trade and the Minister of Agriculture of Uzbekistan during the Fifth Session of the Saudi-Uzbek Joint Committee. On the occasion, the Saudi Minister highlighted the country’s investment potential and rallied support for Riyadh’s candidacy for the World Expo 2030.

Eng. Khalid Al-Falih also attended the private-led ‘Saudi-Uzbek Business Council’ forum dedicated to improving business and investment relations between the two countries.

On the occasion, Eng. Khalid Al-Falih, stated that “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, in the presence of Eng. Khalid Al-Falih, the Saudi Minister of Investment, and the Deputy Prime Minister and Minister of Investments and Foreign Trade of Uzbekistan, Dr. Sulaiman Al Habib Medical Group of Hospitals, Jeddah, signed a Memorandum of Understanding (MoU) with the Ministry of Health of Uzbekistan and the Sovereign Fund for Direct Investment in Uzbekistan.

The memorandum aims to transfer the expertise and digital technologies to Dr. Sulaiman Al Habib Medical Group of Hospitals with the potential to operate a multi-disciplinary medical complex in the city of Tashkent, the capital of Uzbekistan.

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