Uzbekistan’s Fergana seeks Saudi investment in key sectors

BAKU, Azerbaijan, October 12. Uzbekistan’s Fergana region and Saudi investors discussed expanding investment cooperation and developing new joint projects during a meeting in Riyadh between regional Governor Khairullo Bozorov and Saudi businessman Mohammed Abunayyan on Oct. 11, the regional administration reported.

This was reflected in the statement by the Fergana regional government, following a meeting between Abunayyan, co-chair of the Uzbek-Saudi Business Council, chairman of the board of ACWA Power and chairman of Vision Invest, and Bozorov during the Uzbek delegation’s working visit to Saudi Arabia. Uzbekistan’s Ambassador to Saudi Arabia, Nodirjon Turgunov, and representatives of the Saudi business community also attended the meeting.

The discussions focused on expanding investment in Fergana, launching new joint projects and identifying opportunities for mutually beneficial cooperation in energy, industry, infrastructure, healthcare and other sectors.

"The governor of the region emphasized that relations between Uzbekistan and Saudi Arabia have acquired a qualitatively new content in recent years and are bringing practical results in energy, industry, infrastructure, healthcare and other important areas," the statement said.

The governor highlighted the construction of a modern, 800-bed multidisciplinary hospital in Fergana under a public-private partnership (PPP) arrangement as a significant example of bilateral cooperation.

Moreover, the sides discussed the potential to combine the international experience of companies led by Abunayyan with Fergana’s economic potential to develop additional investment initiatives.

Abunayyan Holding, founded in 1950, operates across sectors including energy, water supply, oil and gas, chemicals and transport. The Riyadh-based group comprises 14 strategic business units, according to the regional administration.

ACWA Power is among the major Saudi investors in Uzbekistan, where it is involved in the development of gas-fired, solar and wind power plants, energy storage systems and renewable energy infrastructure. The company’s total completed and planned investments across 19 projects in Uzbekistan have reached $15 billion, according to the regional administration.

Following the meeting, the participants emphasized the importance of strengthening ties between Fergana and Saudi businesses, jointly reviewing prospective investment proposals and translating cooperation into concrete projects.

Expanded cooperation with Saudi investors could help Fergana attract capital, develop modern infrastructure, improve public services and create new opportunities for economic growth. Projects in energy and healthcare could also support regional development while strengthening long-term economic ties between Uzbekistan and Saudi Arabia.