Uzbekistan and Saudi Arabia seek to expand investment cooperation and accelerate joint projects

President of Uzbekistan Shavkat Mirziyoyev received a delegation led by Mohammad Abunayyan, Co-Chair of the Uzbekistan–Saudi Arabia Business Council and Chairman of ACWA Power, on the sidelines of the inaugural meeting of the Energy Sector Investors Council. The meeting focused on expanding practical cooperation and accelerating the implementation of priority joint projects.

In recent years, Saudi companies have shown increasing interest in Uzbekistan's market, resulting in major investment projects in green energy, modern infrastructure, advanced technologies, healthcare and other sectors.

During the talks, both sides expressed their readiness to further develop bilateral cooperation through the timely and effective implementation of existing agreements. At the conclusion of the meeting, Saudi investors reiterated their appreciation for the favorable investment environment created in Uzbekistan.

Earlier Daryo reported that Saudi Arabia's ACWA Power is partnering with Uzbekistan's Ministry of Energy and China Southern Power Grid International (CSGI) to implement the final phase of the Yorqin Xonadon (“Bright Home”) social initiative, which will provide free solar panels to 1,197 low-income households in Karakalpakstan and the Samarkand and Bukhara regions.

The project has a total budget of $20mn, with 65% of the new installations allocated to Karakalpakstan and the remainder distributed between Samarkand and Bukhara. Beneficiaries are being selected in cooperation with regional khokimiyats based on the Temir Daftar (“Iron Notebook”) register of low-income and economically vulnerable households.