Energy Minister Participates in Panel Discussion at Third Tashkent International Investment Forum

Energy Minister Participates in Panel Discussion at Third Tashkent International Investment Forum

Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz participated in the main panel discussion of the Third Tashkent International Investment Forum today in the presence of President of the Republic of Uzbekistan Shavkat Mirziyoyev.

Prince Abdulaziz highlighted the distinguished relations between the two countries and the keenness of their leadership to develop cooperation in all fields, especially in the energy sector, for the benefit of both countries and their people.

He pointed out that economic cooperation between the two countries represents a model to be followed, especially within the framework of the Uzbekistan-2030 Strategy and Saudi Vision 2030.

These two strategies have similar goals aimed at economic development and diversification and enhancing sustainable development, reflecting a shared commitment to building a prosperous future for both nations.

Prince Abdulaziz stressed that the relations between the two countries witnessed a significant leap after the meeting between His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, and President Mirziyoyev in Riyadh in 2022.

The minister noted that the energy sector is an important aspect of the growing relations between Saudi Arabia and Uzbekistan, especially in renewable energy.

He pointed out that this is evident in the significant presence of Saudi companies in Uzbekistan, such as ACWA Power, stating that the investment volume between the two countries in this field has exceeded $14 billion to produce more than 11 gigawatts of electricity from renewable energy.

The minister stressed that Uzbekistan had shown serious commitment to a fair and equitable energy transition, which aligns with the Kingdom's aspirations, noting that the two countries share rational positions regarding energy security and the need to enhance and preserve it while emphasizing their roles in collective efforts to combat climate change.