On April 18, Deputy Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov met with Minister of Investment of the Kingdom of Saudi Arabia Khalid Al-Falih during his working visit to Riyadh (Saudi Arabia), the press office of the Ministry reports.
The interlocutors discussed the current state and development prospects of investment, trade and industrial cooperation.
40 enterprises with the share of Saudi Arabia’s capital operate in Uzbekistan; the companies engaged in the implementation of joint Uzbekistan-Saudi Arabia projects include ACWA Power and Al-Habib Medical Group. The two countries have a tremendous untapped potential of investment partnerships in the chemical, textile, mining, metallurgical and agricultural industries.
The investment ministers exchanged views on the prospects for building up energy cooperation and discussed opportunities for joint action to achieve food security. It was decided to create an investment portfolio for agriculture and agricultural processing using water and energy saving technologies.
They considered the progress on the implementation of the agreements reached following the 5th meeting of the Uzbekistan-Saudi Arabia Intergovernmental Commission on Trade, Economy, Science and Technology, Culture, Sports and Youth and the 3rd meeting of the Uzbekistan-Saudi Arabia Business Council.
The interlocutors agreed on the development of new projects using financial resources of the Islamic Development Bank and the Saudi Development Fund.