Uzbekistan and Saudi Arabia signed new agreements worth $12 bln

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At the meeting in Tashkent between Uzbekistan's President Shavkat Mirziyoyev and the delegation from Saudi Arabia led by the Minister of Investments of the Kingdom, Khalid al-Falih, issues related to expanding Uzbek-Saudi multifaceted cooperation and comprehensive partnership, including the "unconditional practical implementation" of agreements at the highest level, were discussed, reports.

The Uzbekistan leader noted the dynamic development of mutually beneficial cooperation in recent years, the growth in indicators of mutual trade, and the volumes of Saudi direct investments in Uzbekistan's economy, particularly in the "green" energy sector, and the increase in the frequency of direct flights.

With the support of the Saudi Development Fund, several projects in healthcare, education, water supply, and other areas are being implemented. A joint fund for expanding Uzbekistan's economic opportunities is also being created.

As part of the current visit of the Saudi delegation, agreements were signed for the implementation of projects in the fields of chemistry, energy, agriculture, pharmaceuticals, IT, and infrastructure development, with a total value of $12 billion.

The importance of accelerating the implementation of major energy projects in Uzbekistan's regions was emphasized.

An agreement was reached to advance new projects and programs with a total value of $11 billion in the areas of transport infrastructure, communal services, geology, irrigation, waste processing, higher education, and labor migration.

Partnership with ACWA Power, the largest investor and strategic partner in the development of "green" energy in Uzbekistan, was particularly highlighted. Currently, projects worth $7.5 billion are being implemented by the company in Uzbekistan.

President Mirziyoyev welcomed the launch of a 1.5 GW thermal power station in the Syrdarya region and the commencement of the construction of a pilot production facility for "green hydrogen" in the Tashkent region.

President Mirziyoyev awarded the "Dustlik" order to Minister Khalid al-Falih for his significant contribution and comprehensive support in developing multifaceted and mutually beneficial relations between Uzbekistan and Saudi Arabia.

November 27, 2023