Meeting held to strengthen cooperation in investments and trade between Uzbekistan and Saudi Arabia
2025-04-21 20:45:00 / News
On April 21, a meeting was held between the Minister of Investment, Industry and Trade of the Republic of Uzbekistan, Laziz Kudratov, and a delegation from the Kingdom of Saudi Arabia led by Deputy Minister of Energy Fuad Mosa and Vice President of the Local Content and Government Procurement Authority, Mohammed Al-Qahtani.
During the meeting, the parties exchanged experiences in developing the production of industrial spheres, enhancing value chains, systematically expanding industrial cooperation, increasing the share of localized products in investment projects, and modernizing key industrial sectors.
The parties reached an agreement to develop a "local content" system in Uzbekistan, drawing on Saudi Arabia's successful experience in this area.
To facilitate this initiative, joint working groups have been established with relevant ministries and government agencies. These groups will conduct a comprehensive analysis of the current landscape and formulate strategies to strengthen bilateral cooperation and support sustainable industrial development.