Uzbekistan and Saudi Arabia have signed ten new cooperation agreements following the meeting of the Intergovernmental Commission and the Business Council held on October 14. The agreements cover key sectors such as energy, tourism, IT, transport and logistics, infrastructure, and water management, reports Gazeta.uz.
During talks with Saudi Minister of Investment Khalid Al-Falih, President Shavkat Mirziyoyev announced that the total value of new projects reached $4 billion. Minister of Investments, Industry and Trade Laziz Kudratov later stated that the overall portfolio of joint initiatives between the two countries now stands at $30 billion. He emphasized that all investments are non-sovereign, meaning they do not rely on state guarantees but represent direct foreign investment — a clear sign of Saudi Arabia’s confidence in Uzbekistan’s economic potential.
One of the key projects under discussion is in the healthcare sector. On November 18, the parties plan to sign a final agreement in Samarkand for the InterHealth project, which aims to introduce a new hospital management and treatment system based on public-private partnership principles. This initiative is expected to significantly improve patient care and hospital efficiency across Uzbekistan.
In the energy sector, Minister Jurabek Mirzamakhmudov highlighted that, in partnership with ACWA Power, Uzbekistan has already launched major thermal and solar power plants in the Tashkent region, as well as large wind farms in Bukhara and Karakalpakstan. Work has also begun on new wind and solar energy projects, alongside the creation of the country’s largest battery energy storage system in Parkent.
Special focus is being placed on human capital development. ACWA Power has taken over management of the Shirin Energy College in Syrdarya region, introducing modern curricula and foreign language training. Graduates are now working not only on local energy projects but also on ACWA Power’s international operations.
In addition, Uzbekistan and Saudi partners have agreed to launch a sustainable aviation fuel (SAF) production project in cooperation with Vision Invest (Saudi Arabia) and Air Products (USA). The new fuel will supply the upcoming Tashkent International Airport.
Other agreements include the construction of a 200 MW gas-engine power plant in the Samarkand region with the Pemco company, and a $36.6 million deal with Saudi Tabreed for the purchase of electric and thermal energy.
In the industrial sector, Riyadh Cables plans to localize the production of 500 kV high-voltage cables and components in Uzbekistan, reducing imports and boosting domestic manufacturing. Meanwhile, Al-Muhaidib Group Chairman Sulaiman Al-Muhaideb announced plans to invest in copper production and cable manufacturing projects.
According to the Ministry, bilateral trade turnover between Uzbekistan and Saudi Arabia reached $142.4 million in 2024 and $111.5 million in the first eight months of 2025. Currently, 27 Saudi-backed enterprises are operating in Uzbekistan, and 56 investment projects worth $27.2 billion are being implemented, with nearly $900 million already utilized this year.
CentralasianLIGHT.org
October 20, 2025