Saudi investors eye partnership opportunities with Namangan

By Dilmurod Jumaboyev,
Editor-in chief of Vodiymedia.uz,
Uzbekistan

Namangan: Saudi Arabia International Business Forum started in Namangan region of Uzbekistan, bringing together the delegation of Saudi business circles led by Bader Almufgai from Saudi Arabian General Investment Authority and local authority and entrepreneurs.

The representatives of Saudi Arabian Ministries of Finance, Commerce and investment and Environment, Water and Agriculture are also participating the forum, officially opened by Governor of Namangan Khayrullo Bozorov.

In his speech, Bozorov emphasized that large-scale reforms in Uzbekistan launched by President Shavkat Mirziyoyev have given foreign investors trust and confidence in Uzbekistan.

“The amount of direct foreign investments in Namangan has increased 30 times if to compare 2017 and 2019” said the Governor.

Bozorov underlined that in recent years together with traditional Chinese, Russian and South Korean investments, many European and Asian companies, especially from Arabic countries such as Egypt, UAE, Oman and Kuwait are also investing in the economy of the region.

Almufgai said that Saudi Arabian investors are ready to invest in renewable energy, agriculture, oil sector, innovation and tourism of the region.

During the event, Arabian delegation got acquainted with the economic potential and business opportunities of Namangan region.

Working sessions raised a wide range of issues on developing the trade. The event also featured the exhibition of export goods along with B2B and B2G meetings.

Participants in the business forum got acquainted with the work of major export-oriented companies in Namangan region such as “Istiqlol Dizayn”, “Art Soft Tex”, “Merrimed Pharm”, “Chortoq Mineral Water”, “Ideal”.

They also paid a visit to cultural, historical, tourist and educational places of the region, namely “Chartaq Resort”, Isokhon Turi Ibrat complex and others.