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Pakistan welcomes $20b investment in Uzbekistan
Pakistani and Uzbek business communities welcomed Saudi Arabia’s $20 billion investment in Uzbekistan’s energy sector on Saturday. Speaking to APP during the Tashkent International Investment Forum (TIIF), the Chairman of the Chamber of Commerce and Industry of Uzbekistan, Vakhabov Davron Abdujalolovich, emphasized that at the opening ceremony on May 2, the Minister of Energy of Saudi Arabia, Prince Abdulaziz bin Salman, announced the investment. This investment, which comes from the Saudi government and the private sector, will initiate various energy projects.
He stressed that this investment announcement will also create opportunities for Pakistan’s business community, fostering bilateral projects between the two countries. He added that once the project is implemented, not only Uzbekistan but the entire economy of the region will benefit, providing opportunities for regional countries.
The Deputy Chairman of the Kazakhstan Commodity Exchange, Nabikhon Samatov Samatov, stressed that there is an existing agreement between Pakistan and the Uzbekistan Commodity Exchange for bilateral cooperation. With the recent announcement of $20 billion investment by Saudi Arabia, there is now a huge opportunity for Pakistani businessmen.
Habib Mamsan, a member of the Pakistan Mercantile Exchange administration and head of the delegation visiting the Tashkent International Investment Forum, emphasized the long-standing cooperation between Pakistan and Uzbekistan. He noted that the current $20 billion investment in Uzbekistan from Saudi Arabia will benefit the regional economy. Mamsan emphasized that discussions in the commodity sector between Pakistan and Uzbekistan will begin, aiming to further enhance bilateral economic relations.
It is worth mentioning that in addition, more than 10 investment agreements were signed on the first day of the Tashkent International Investment Forum. Interest in the International Investment Forum is increasing every year. In particular, this year, the event gathered about 2.5 thousand delegates from 93 countries. On the first day of the forum, more than ten investment agreements were signed with major companies, including ACWA Power, Masdar, Bonfarm Group, and others. This event marks the beginning of large-scale cooperation in key areas such as energy, geology, food processing, and the introduction of green technology. The signing of the agreement is expected to lead to significant investment in the development of this industry, driving economic growth and innovation. Industry representatives noted that such contracts not only strengthen business ties but also create new opportunities for international cooperation. The forum also discussed the current challenges and future prospects of each mentioned industry, supported by concrete plans and projects signed in the form of contracts. This forum, organized to stimulate investment activity and exchange of experience between key market players, has already demonstrated its effectiveness and relevance to the economic landscape.
