18 June 2022

Issues of Uzbek-Saudi cooperation in the investment sphere were discussed in Riyadh

Ambassador of Uzbekistan Ulugbek Maksudov held talks with Director General of the National Development Company of Saudi Arabia Nasir bin Hammad al-Jaidi.

The purpose of the meeting is to discuss the issues of the visit of representatives of the company to Tashkent on June 23 and organizing meetings for them in the relevant government departments and private companies of Uzbekistan.

At the beginning of the conversation, it was noted that in recent years the Government of Uzbekistan has been carrying out large-scale reforms in all areas, including attracting investments and increasing the country’s export potential.

The Saudi side was also informed in detail about the conditions created in Uzbekistan for foreign investors in the development of the country’s economy, as well as the conditions for their successful activities.

The interlocutors noted that the growing number of Saudi investors wishing to work in Uzbekistan are making a significant contribution to the development of trade, economic and investment cooperation between the two countries.

Nasir al-Jaidi, in turn, noted that the geographical location of Uzbekistan is very important for foreign investors. He highly appreciated the opportunities created by the leadership of our country for foreign investors. According to him, Uzbekistan is one of the main partner countries of Saudi Arabia.

He also emphasized with satisfaction that Uzbekistan is an ancient country with a rich history and culture. Great scientists and thinkers recognized in the Muslim world lived and worked on this blessed land, who made a huge contribution to the development of Islamic civilization.

Nasir Al-Jaidi said that his company is currently showing great interest in establishing cooperation with Uzbek companies and enterprises in such areas as healthcare, mining and chemical industries, education, agriculture and tourism. At present, cooperation in the field of production of electrical products has already begun.

In this regard, he noted with satisfaction the establishment of a joint venture in Saudi Arabia called “TanmiaUz”. According to him, the activities of the joint venture will be aimed at further expanding and strengthening trade, economic and investment cooperation with Uzbekistan, as well as increasing trade between the two countries.

During the conversation, the Saudi entrepreneur was also provided with information on investment projects developed in all sectors in the regions of the republic.