The activities of the first-of-its-kind Saudi-Uzbek Investment Forum were held in Bukhara on Saturday, under the patronage and presence of the Minister of Investment, Eng.Khalid bin Abdulaziz Al-Falih, and the Deputy Prime Minister of Uzbekistan, Minister of Investment and Foreign Trade, Sardor Omor Zakov, with the participation of a group of businessmen and representatives of the private and government sectors from the two friendly countries .

Al-Falih stressed during the forum the wise leadership’s keenness to strengthen relations with the Republic of Uzbekistan in various political, economic, religious and cultural fields.

His Excellency said, “We are looking forward to developing the partnership between our two countries to achieve the aspirations of our two leaderships, and to rise to the level of ties that bring the two countries together.”

Al-Falih added that the Republic of Uzbekistan is witnessing a great renaissance in all fields, and we are pleased to contribute and actively participate in its exceptional plan for economic transformation and growth.

He touched on the importance of the role of the private sector to lead the economic development of countries, noting the role it plays in strengthening international cooperation and partnerships and building bridges of communication between peoples and countries, noting that the Kingdom relies on entrepreneurial companies and the private sector to contribute to strengthening trade and investment cooperation with friendly countries.

The Uzbek Deputy Prime Minister and Minister of Investment and Foreign Trade Zakov said, “The presence of the Saudi delegation to Uzbekistan in light of the difficult circumstances and restrictions imposed on travel that the world is witnessing due to the spread of the Corona pandemic, reflects the depth of the fraternal relationship between the Kingdom of Saudi Arabia and the Republic of Uzbekistan, which is based on mutual trust and desire. The two countries have deep growth and prosperity, “adding that the relationship between the two countries is led by common ties, with the Islamic religion at the top, and it is imperative to strengthen the fraternal ties, expressing his confidence that the Kingdom will take this relationship to higher levels of cooperation and partnership for a better future between the two countries.

Zakov pointed out that the partnership between the Kingdom and Uzbekistan in the energy sector is one of the most prominent examples of the distinction of the relationship between the two countries, and that this partnership will serve as a bridge to strengthen economic cooperation between the two countries.

The activities of the forum witnessed the signing of a number of agreements and memoranda of understanding that included an agreement between the two sides to establish the Saudi-Uzbek Business Council, to continue and enhance joint work and enable the private sector to access investment opportunities in both countries, and a bilateral agreement between Saudi Arabian Airlines and Uzbek Airlines aimed at operating direct flights between Saudi Arabia and Uzbekistan. And a memorandum of understanding between the King Faisal Center for Research and Islamic Studies and the Center for Islamic Civilization in Uzbekistan with the aim of strengthening and developing cooperation in the field of education, research, scientific studies, printing operations, culture and manuscripts.

Many bilateral meetings were held between government agencies and the private sector from both sides to discuss many investment opportunities available in the two countries.

The forum will be held on the sidelines of the visit of a high-level Saudi delegation from the government and private sectors headed by Minister of Investment Khaled bin Abdulaziz Al-Falih to the Republic of Uzbekistan to strengthen bilateral relations between the two countries, launch a number of joint projects, sign memoranda of understanding and launch renewable energy projects led by Saudi companies.