Uzbekistan Encourages Investments from Saudi Arabia and Turkey

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As the result of the third meeting of the Uzbek-Turkish Strategic Cooperation Council, 158 new projects worth $10.1 billion have been established, a statement from the press service of the President of Uzbekistan says.

These projects cover sectors such as industry, energy, mining and geology, transport, healthcare, and agriculture.

The President of Uzbekistan has issued additional instructions to expand the portfolio of promising projects with major Turkish companies and to develop interregional cooperation.

Investment cooperation is also actively developing with Saudi Arabia. Currently, several large projects are being implemented, and the investment portfolio is constantly expanding. A list of 34 investment projects with a total value of $24.1 billion has been formed with the participation of companies from the kingdom.

As part of these projects, $2.5 billion is planned to be allocated this year, including $1.5 billion in investments within 13 additional projects in the fields of transport, digitalization, infrastructure, healthcare, and energy.

The meeting paid special attention to the activation of the Uzbek-Saudi Business Council. The importance of completing negotiations and starting practical work on new promising projects in the fields of ecology, the extractive industry, and financial cooperation, with a total value of $6.5 billion, was emphasized within the framework of the council.

June 10, 2024