TASHKENT, May 04 (APP): The business communities of Pakistan and Uzbekistan on Saturday welcomed Saudi Arabia’s $20 billion investment in Uzbekistan in energy sector.
Meanwhile talking to APP, besides the Tashkent International Investment Forum (TIIF), Chairman of the Chamber of Commerce and Industry of the Uzbekistan, Vakhabov Davron Abdujalolovich said that at the opening ceremony of the Tashkent International Investment Forum on May 2, the Minister of Energy of Saudi Arabia, Prince Abdulaziz bin Salman announced the investment of $20 billion by the Saudi government and the private sector in the energy sector, which will start projects in various energy sectors.
He said that the announcement of investment of $20 billion by the Saudi government would also create opportunities for the business community of Pakistan due to which the business communities of both countries will work on many bilateral projects.
He said that after the execution of the projects not only Uzbekistan but also the economy of the region will benefit from this and regional countries can take advantage of this opportunity.
Talking to APP, Deputy Chairman of Kazakhstan Commodity Exchange, Nabikhon Samatov Samatov said that there is already a agreement between Pakistan and Uzbekistan Commodity Exchange for bilateral cooperation and now after the announcement of $20 billion investment by Saudi Arabia, now there are big opportunities for Pakistani businessmen here.
He said that all the countries of the region will benefit from this huge investment in the energy sector.
On this occasion, talking to APP, Habib Mamsan, member governing member of Pakistan Mercantile Exchange and head of the delegation of businessmen visiting Tashkent International Investment Forum, said that the business communities of Pakistan and Uzbekistan have been cooperating for many years and the current $20 billion investment in Uzbekistan from Saudi Arabia is useful for regional economy.
He said that the commodity sector of Pakistan and Uzbekistan will now start mutual discussions and work will be started to further enhance bilateral economic relations between the two countries.
It is pertinent to mention that beside this more than 10 investment agreements were signed on the first day of Tashkent International Investment Forum.
Interest in the International Investment Forum is growing 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 marked the beginning of large-scale co-operation in such key areas as energy, geology, food processing and the introduction of green technologies.
The signing of the agreements is expected to lead to significant investments in the development of these industries, fueling economic growth and innovation. Industry representatives noted that such contracts not only strengthen business ties, but also create new opportunities for international co-operation.
The forum also discussed the current challenges and future prospects of each of the mentioned industries, supported by concrete plans and projects signed in the form of contracts.
This forum, organized to stimulate investing activities and exchange of experience between key market players, is already showing its effectiveness and relevance to the economic landscape.
