Tashkent, Uzbekistan (UzDaily.com) —  From 24 to 25 November 2024, Uzbekistan’s Minister of Investments, Industry, and Trade, Laziz Kudratov, visited Saudi Arabia to participate in the 28th World Investment Conference and hold several meetings with Saudi Investment Minister Khalid Al-Falih and leaders of major Saudi companies.

The forum was attended by 3,000 representatives from more than 100 countries. In addition to panel sessions and other events, a roundtable for ministers of investment from 21 countries was organized, focusing on the topic “Shifting Paradigms – Synergy of Industrial Policy and Investment Strategy.”

Experts, summarizing the discussions, highlighted key factors that will shape the international investment landscape in the coming years. These include supporting investments in the green economy, technological development, rethinking global supply chains, and promoting infrastructure development and demographic growth.

During the conference, Laziz Kudratov held talks with Saudi Arabia's Investment Minister Khalid Al-Falih. The meeting focused on bilateral cooperation between Uzbekistan and Saudi Arabia, where both sides agreed on specific steps for further collaboration. They also agreed on the date for the next meeting of the Intergovernmental Commission and business forum in Samarkand in the first quarter of 2025.

Additionally, Kudratov met with leaders of major Saudi companies to discuss the progress of ongoing joint projects, the prospects for increasing demand for exports, and new investment initiatives. The negotiations included a detailed analysis of the companies' capabilities, available financial instruments, and the potential of key sectors of Uzbekistan’s economy.

Overall, a high level of trust was noted from Saudi entrepreneurs regarding the investment climate in Uzbekistan, along with their willingness to participate in long-term investment projects, including those based on public-private partnerships and non-sovereign financing.