Photo: Press Service of the Ministry of Investments, Industry and Trade of Uzbekistan
The portfolio of investments that Saudi Arabian companies have committed to Uzbekistan’s economy has reached $30 billion, according to Laziz Kudratov, head of the Ministry of Investments, Industry and Trade (MIIT), in an interview with the Uzbekistan 24 TV channel, as reported by Gazeta.uz.
“It is important to note that these are not funds backed by state guarantees. All of them are foreign direct investments (FDI). This can be seen as a sign of Saudi Arabia’s trust in Uzbekistan,” Kudratov emphasized.
Some of the agreements were signed on October 14 during the 7th session of the Intergovernmental Commission and the 6th Business Council held in Tashkent. The meetings brought together more than 70 representatives of government bodies and business circles from both Uzbekistan and Saudi Arabia. The Saudi delegation included representatives from Acwa Power, Al Muhaidib Group, Vision Invest, Al Arkkan, Data Volt, Riyadh Cables, Saudi Tabreed, AlBawani Holding, Miahona, and several other companies.
As a result of the talks, ten bilateral documents and projects were signed in the fields of energy and renewables, tourism, transport and logistics, IT, infrastructure construction, housing and utilities, and water management.
The investment portfolio includes, among other projects, the construction of a 200 MW gas-piston power plant in Samarkand Region, wastewater treatment facilities in Fergana and Jizzakh, modernization of water supply systems and pumping stations in Karakalpakstan, and the development of the Er Riyadh residential quarter in New Tashkent.
In 2024, trade between Uzbekistan and Saudi Arabia totaled $142.4 million; in January–August 2025, it reached $111.5 million. Uzbekistan currently hosts 27 enterprises with Saudi participation, and 56 investment projects worth $27.2 billion are being implemented — $900 million of which has already been disbursed in 2025.
