TASHKENT, Uzbekistan, October 29. A
representative of the Ministry of Investment, Industry and Trade of
Uzbekistan has signed an agreement with Riyadh Cables Group on the
joint implementation of a project to establish a high-voltage cable
production facility in Tashkent, Trend reports.
The document was signed during a working visit of the Uzbek
delegation to the Kingdom of Saudi Arabia, led by Deputy Prime
Minister Jamshid Khodjaev. The delegation also included Deputy
Minister of Investment, Industry and Trade Shokhrukh Gulamov. The
visit was aimed at deepening investment and industrial cooperation
between the two countries.
The project, valued at $122 million, entails the establishment
of a facility with an annual production capacity of 24,000 tons and
is anticipated to generate 340 new employment opportunities.
During meetings with Saudi Minister of Investment Khalid
Al-Falih and senior representatives of major Saudi enterprises, the
parties examined prospects for expanding cooperation across the
sectors of industry, energy, infrastructure, healthcare, and labor
migration.
Furthermore, the parties endorsed a Practical Action Plan
comprising more than 20 joint initiatives in the fields of energy,
water supply, information technology, agriculture, and
infrastructure, aimed at reinforcing the economic partnership
between Uzbekistan and Saudi Arabia.
Meanwhile, in 2024, bilateral trade between Uzbekistan and Saudi
Arabia totaled $142.4 million, while in the first eight months of
2025 it reached $111.5 million. At present, 27 enterprises with
Saudi capital are operating in Uzbekistan, and 56 joint investment
projects worth a total of $27.2 billion are being implemented. Of
this amount, $900 million has already been disbursed since the
beginning of 2025.
