President Shavkat Mirziyoyev meets with Saudi business leaders. Photo: Press Service of the President of Uzbekistan
President of Uzbekistan Shavkat Mirziyoyev met with the heads of leading Saudi Arabian companies, inviting them to take an active part in joint projects—particularly in the strategically important mining sector, his press service reported.
Mirziyoyev emphasized this area, noting that Uzbekistan holds significant reserves of tungsten, molybdenum, lithium, magnesium, graphite, titanium, and other minerals. He also highlighted plans to establish a “Metals of the Future Technopark” in the Tashkent and Samarkand regions, where high value-added production will be developed.
The president called on Saudi businesses to participate in such projects involving a full production cycle—from geological exploration to processing and manufacturing finished products.
He also invited Saudi investors to finance initiatives aimed at modernizing infrastructure and improving the population’s quality of life.
The Saudi delegation was led by Minister of Investment Khalid Al-Falih. The group included executives from ACWA Power, Al Muhaidib Group, Vision Invest, Data Volt, Saudi Tabreed, AlBawani Holding, Miahona, Pemco, and others.
According to Mirziyoyev, Uzbek–Saudi cooperation has reached an unprecedented level in recent years, with a joint project portfolio exceeding $27 billion. Since the beginning of this year alone, $2 billion in Saudi investment has been utilized. Bilateral trade is growing, and there are now over 60 flights per week between the two countries.
“We highly appreciate the significant contribution of our Saudi partners to Uzbekistan’s economic transformation and development,” Mirziyoyev said.
He highlighted several key initiatives, including ACWA Power projects worth $15 billion, which cover the construction of wind and solar power plants and the development of green hydrogen.
Data Volt, he noted, is successfully implementing a modern data center project in Tashkent. The president expressed readiness to support the establishment of similar centers in New Tashkent and Bukhara, as well as Saudi participation in the development of digitalization and artificial intelligence.
In infrastructure, cooperation with Miahona was noted—the company is working on wastewater treatment in Fergana and Jizzakh and modernizing pumping stations in Karakalpakstan. Agreements were also reached with Saudi Tabreed on developing urban utilities.
Saudi business leaders, in turn, praised Uzbekistan’s economic policy and favorable investment climate, voicing plans to expand partnerships across sectors and advance mutually beneficial projects.
