Saudi Arabia plans big investments in Central Asian hub of Uzbekistan
Investment Forum (TIIF) last week witnessed huge interests from global investors including from the Gulf leading to signing of agreements worth $26.6 billion.
Lok Sabha Voting Phase 3: All the latest news
According to the Ministry of Investment, Industry and Trade of Uzbekistan, the event gathered more than 2.5 thousand participants from 93 countries.
Want a Loan? Get cash against your Mutual Funds in 4 hours
One of the key events of the forum was the presentation of regional energy projects (construction of Kambarata HPP-1 and Yavan HPP) to foreign investors. The presentation was attended by the Prime Ministers of Uzbekistan and Kyrgyzstan, which emphasized the importance of these projects for the entire region.
As a result of the TIIF, agreements totaling $26.6 billion were signed, which testifies to the high investment attractiveness of Uzbekistan and the success of the forum, according to Uzbek officials. As many as 167 documents worth $11 billion were signed at TIIF in 2022, which demonstrates a significant increase in investment interest to the country.
Following agreements were signed:
— "Data Volt" from Saudi Arabia will be engaged in the construction of urban infrastructure in «New Tashkent» for the amount of $1 billion, as well as create a «data center» based on green technologies for the amount of $3 billion.
— Saudi Arabia's Acwa Power will implement projects to build a 5 GW wind farm in the Republic of Karakalpakstan and create 2 GW of electricity storage capacity for a total of
