Uzbekistan is positioning itself as an increasingly attractive destination for major Middle Eastern capital, with a fresh wave of investment commitments from Saudi Arabia’s leading companies signaling confidence in the country’s infrastructure modernization plans and renewable energy transition. A high-level delegation of Saudi industrial investors — including executives from ACWA Power, Al Muhaidib Group, Vision Invest, Data Volt, Riyadh Cables, and other major corporations — traveled to Tashkent to explore and expand their operations in what has become one of Central Asia’s most active investment corridors.
A portfolio reaching new scale
The combined project portfolio between the two nations has now reached $27 billion, with Saudi investors deploying an estimated $2 billion in new capital since the beginning of 2025 alone. Energy represents the lion’s share of this commitment. ACWA Power — the Saudi energy conglomerate — maintains a $15 billion project pipeline in Uzbekistan, spanning renewable electricity generation, hydrogen production facilities, and grid infrastructure upgrades. The company has already commenced operations of its green hydrogen plant in the Tashkent region, marking a significant step in Uzbekistan’s efforts to position itself as a hydrogen production hub for Central Asia and beyond.
Data infrastructure and future materials
Beyond energy, Saudi investors are betting on Uzbekistan’s emerging role in digital infrastructure and advanced materials production. Data Volt is actively constructing a modern data center facility in Tashkent, with discussions underway for expansion into New Tashkent and Bukhara — part of a broader regional IT infrastructure play. Simultaneously, discussions have advanced on creating a specialized “Future Metals Techpark” in the Tashkent and Samarkand regions, designed to support the processing and development of strategically important minerals including tungsten, lithium, titanium, and graphite. This initiative addresses growing global demand for materials essential to renewable energy systems, electronics manufacturing, and advanced industrial applications.
Strategic context and connectivity
The deepening Saudi engagement occurs against a backdrop of improving practical connectivity. Commercial air routes between Saudi Arabia and Uzbekistan now exceed 60 weekly flights, facilitating both business travel and supply chain coordination. The timing also coincides with major infrastructure projects, including the foundation stone laying for a new international airport serving Tashkent — a facility designed to enhance regional air cargo and passenger connectivity. Trade volumes and the number of joint enterprises continue to grow, suggesting that the relationship is moving beyond cyclical project cycles into more embedded commercial partnerships.
Why this matters for international operators
For international companies in construction, infrastructure development, manufacturing, design, and industrial supply chains, this investment wave signals several important developments. First, it reflects Uzbekistan’s commitment to modernizing its infrastructure backbone — a prerequisite for sustained industrial growth and manufacturing competitiveness. Second, the focus on energy transition and digital infrastructure creates demand for complementary services: construction management, equipment supply, technical expertise, and professional services. Third, the minerals techpark initiative opens supply chain opportunities for companies involved in metals processing, advanced materials manufacturing, and equipment provisioning. For firms considering Central Asian expansion or deeper regional engagement, Uzbekistan’s accelerating trajectory as an investment destination — backed by concrete capital commitments from major international investors — represents a lowering of perceived risk and an improving enabling environment for business operations.
