On December 23, Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjayev 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 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 the Minister of Investment of the Kingdom of Saudi Arabia Khalid al-Falih, heads of ministries, departments, industry associations of the two countries.
During the conversation, which took place in the spirit of mutual trust and openness, representatives of the Saudi business community were provided with information about the favorable investment conditions created in Uzbekistan in recent years. It was about the protection of investors’ rights, the creation of the necessary infrastructure, the transformation of the banking sector, large-scale privatization, the opportunities for export to regional markets in the free trade regime and the EU markets on a preferential GSP+ 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 readiness of the Government of Uzbekistan to provide comprehensive support at all stages of the implementation of investment projects – from the joint development of pre-project documentation to the commissioning of facilities was expressed.
In turn, Saudi businessmen highly appreciated the investment climate of Uzbekistan, the legislative framework for the protection of foreign investments. The readiness to continue a constructive dialogue with Uzbek colleagues within the framework of the study of promising investment projects was voiced.
During the conversation, KSA entrepreneurs were able to ask their questions concerning financial, technical and legal aspects of investing in Uzbekistan, to which they received exhaustive answers.
Following the meeting with representatives of Saudi business circles, a format for further dialogue was developed in order to effectively coordinate bilateral cooperation with the entry into firm trade agreements and contracts.
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