BAKU, Azerbaijan, October 12. Uzbekistan’s
Fergana region and Saudi investors discussed expanding investment
cooperation and developing new joint projects during a meeting in
Riyadh between regional Governor Khairullo Bozorov and Saudi
businessman Mohammed Abunayyan on Oct. 11, the regional
administration reported.
This was reflected in the statement by the Fergana regional
government, following a meeting between Abunayyan, co-chair of the
Uzbek-Saudi Business Council, chairman of the board of ACWA Power
and chairman of Vision Invest, and Bozorov during the Uzbek
delegation’s working visit to Saudi Arabia. Uzbekistan’s Ambassador
to Saudi Arabia, Nodirjon Turgunov, and representatives of the
Saudi business community also attended the meeting.
The discussions focused on expanding investment in Fergana,
launching new joint projects and identifying opportunities for
mutually beneficial cooperation in energy, industry,
infrastructure, healthcare and other sectors.
"The governor of the region emphasized that relations between
Uzbekistan and Saudi Arabia have acquired a qualitatively new
content in recent years and are bringing practical results in
energy, industry, infrastructure, healthcare and other important
areas," the statement said.
The governor highlighted the construction of a modern, 800-bed
multidisciplinary hospital in Fergana under a public-private
partnership (PPP) arrangement as a significant example of bilateral
cooperation.
Moreover, the sides discussed the potential to combine the
international experience of companies led by Abunayyan with
Fergana’s economic potential to develop additional investment
initiatives.
Abunayyan Holding, founded in 1950, operates across sectors
including energy, water supply, oil and gas, chemicals and
transport. The Riyadh-based group comprises 14 strategic business
units, according to the regional administration.
ACWA Power is among the major Saudi investors in Uzbekistan,
where it is involved in the development of gas-fired, solar and
wind power plants, energy storage systems and renewable energy
infrastructure. The company’s total completed and planned
investments across 19 projects in Uzbekistan have reached $15
billion, according to the regional administration.
Following the meeting, the participants emphasized the
importance of strengthening ties between Fergana and Saudi
businesses, jointly reviewing prospective investment proposals and
translating cooperation into concrete projects.
Expanded cooperation with Saudi investors could help Fergana
attract capital, develop modern infrastructure, improve public
services and create new opportunities for economic growth. Projects
in energy and healthcare could also support regional development
while strengthening long-term economic ties between Uzbekistan and
Saudi Arabia.
