The Fergana Region intends to increase investment interaction with Saudi Arabia by attracting new projects in the fields of energy, industry, infrastructure, and other sectors.
Discussions on cooperation prospects took place during the working trip of the Governor of the Fergana Region, Khayrullo Bozorov, to Saudi Arabia and were held in Riyadh. The meeting was also attended by the Ambassador of Uzbekistan to the Kingdom, Nodirjon Turgunov, and representatives of the business community.
Mohammed Abunayyan, who is co-chairman of the Uzbekistan-Saudi Business Council and chairman of the boards of directors of Acwa and Vision Invest, participated in the negotiations. The parties discussed promising investment initiatives, opportunities for joint project implementation, and ways to effectively utilize the economic potential of the Fergana Region.
Bozorov noted that over the past years, cooperation between Uzbekistan and Saudi Arabia has expanded in the sectors of healthcare, energy, industry, and infrastructure. He cited the construction of a multi-purpose 800-bed hospital in the Fergana Region, implemented under public-private partnership.
Participants emphasized that the international experience of companies led by Abunayyan, combined with the economic potential of the Fergana Region, opens up prospects for the further development of mutually beneficial projects.
Abunayyan Holding from Saudi Arabia, founded in 1950, operates in areas such as transport, chemicals, oil and gas, water supply, and energy. The holding's headquarters are in Riyadh, and it includes 14 strategic business divisions.
Acwa is one of the major Saudi investors in the Uzbek economy. It is involved in building solar, wind, and gas turbine power plants, implementing energy storage systems, and developing renewable energy. According to the data presented, Acwa's total volume of realized and planned investments in 19 projects in Uzbekistan reached 15 billion US dollars.
At the conclusion of the negotiations, the parties stressed the need to activate contacts between the business circles of the Fergana Region and Saudi entrepreneurs, develop new investment proposals, and turn existing agreements into real projects.