On August 18, in Jeddah, Shavkat Mirziyoyev met with the CEOs of major Saudi companies and financial institutions. The event was attended by Investment Minister Khalid al-Falih, as well as CEOS of about 20 largest Saudi companies and corporations, such as ACWA Power, SABIC, Saudi National Bank, Al Rajhi Capital, Ma'aden, Petromin, Jamjoom Pharma, SEDCO, Salic, Albawani, Ajlan & Bros, Desert Technologies and others.
Shavkat Mirziyoyev noted that agreements were reached at the talks held yesterday with the Crown Prince on a multiple increase in the volume of the two-way trade, full support for business people's initiatives and financing of investment projects. All this creates opportunities for business partnerships. In particular, Uzbekistan has been creating the most favorable conditions for entrepreneurs, expanding the presence of foreign capital.
He noted the experience of a number of Saudi companies that have been successfully operating in Uzbekistan for several years. Thus, at present, together with ACWA Power, the implementation of large energy projects worth $2.6 billion has begun. The attention of the participants was drawn to the unprecedented results of the Uzbek-Saudi Business Council, held on the eve of the visit. In particular, it resulted in the signing of agreements on the implementation of projects totaling more than $14 billion.
He emphasized that there had been no such breakthrough agreements in 30 years, and work on creating better conditions for Saudi partners will continue. The head of state called on Saudi companies to work even more closely to develop and implement new projects.
During the meeting, President Shavkat Mirziyoyev unveiled his vision of further building bilateral cooperation. Thus, Saudi business is invited to participate in the privatization of large banks, industrial and infrastructure facilities in Uzbekistan. The most promising joint projects are "green energy" and "green economy" projects. The Uzbek authorities, as noted, is ready for active joint work on the construction of wind farms, the production of "green" hydrogen, the development of alternative energy, the deepening of the digitalization of industry and the conduct of joint scientific research.
The President emphasized Uzbekistan’s interest in expanding partnerships in the areas of the digital economy, bio- and nanotechnologies, software, innovation and artificial intelligence. He is proposed to pay special attention to the implementation of projects for the production of food products, in the areas of healthcare and tourism.
Also in Uzbekistan, with the participation of the Saudi Development Fund, it is planned to continue work on improving infrastructure projects in the areas of water and electricity supply.
Responding to the invitation to cooperate, the heads of Saudi companies, holdings and corporations highly appreciated the conditions created in Uzbekistan for doing business. In their speeches, they shared their plans for the implementation of joint projects in the country, their vision of the prospects for the development of contacts and interaction in a wide range of areas.
After carefully listening to the proposals and opinions of the Saudi partners, President Shavkat Mirziyoyev stressed that strict control would be established over the implementation of all projects.
Responsible persons were instructed to adopt a comprehensive "road map" indicating effective mechanisms and specific deadlines for implementation. Thus, in certain areas, the heads of relevant ministries and departments will be personally responsible for the implementation of all the agreements reached during the visit.
