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Saudi Arabia agrees on further steps to modernize national electric power system of Uzbekistan

Oil&Gas Materials 26 January 2021 10:58
Saudi Arabia agrees on further steps to modernize national electric power system of Uzbekistan

BAKU, Azerbaijan, Jan. 26

By Klavdiya Romakayeva - Trend:

Further steps were agreed to expand the Uzbek-Saudi partnership on modernizing the national electric power system of Uzbekistan based on a public-private partnership, Trend reports referring to the Ministry of Investments and Foreign Trade of Uzbekistan.

The issue was discussed between the Minister of Investment of the Kingdom of Saudi Arabia, Khalid al-Falih, and the Deputy Prime Minister, Minister of Investment and Foreign Trade of Uzbekistan Sardor Umurzakov within the framework of the visit of the Saudi delegation to Uzbekistan.

It is reported that the parties agreed on further steps to expand the Uzbek-Saudi partnership in the energy sector by developing new projects for the construction of power plants operating on the basis of alternative energy sources, as well as modernizing the national electricity system of Uzbekistan based on a public-private partnership.

In addition, the prospects of creating joint Uzbek-Saudi enterprises in the field of agriculture, poultry, and livestock raising in Uzbekistan with the involvement of rural residents and socially vulnerable groups of the population in production activities and the organization of subsequent deliveries of agricultural products abroad were noted.

Also, the Saudi side voiced its readiness to assist in attracting the assistance of Saudi companies to the implementation of projects and programs of social and infrastructural development of remote regions of Uzbekistan on the principles of corporate social responsibility.

Moreover, agreements were reached on the joint development of a number of projects in the oil and gas industry, healthcare, metallurgy, production of building materials, information and communication sector, transport and logistics, development of the stock market, and tourism.

Following the meeting, the parties agreed to approve a joint roadmap for the practical implementation of projects and create a bilateral working group to monitor the implementation of the agreements reached and prepare proposals for new areas of cooperation.

It was also agreed that the parties will begin joint preparations for holding a meeting of the Uzbek-Saudi Intergovernmental Commission on Bilateral Cooperation in Saudi Arabia in the near future, as well as the next meeting of the Uzbek-Saudi Business Council and business forum with the participation of the business communities of the two countries.

At the end of the negotiations, Memorandums of Cooperation were signed between the Ministry of Health of Uzbekistan and Dr. Sulaiman Al-Habib Medical Group and between the Agency for the Development of the Capital Market of Uzbekistan and DirectFN Ltd.

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Follow the author on Twitter: @romakayeva

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