Saudi Arabia will invest in renewables in Kyrgyzstan
The delegations of Saudi Arabia and Kyrgyzstan met in Riyadh during the Saudi-Kyrgyz Business Forum. They have discussed the close cooperation of the two countries and signed five agreements, aiming among other aspects at promoting collaborative renewable energy investments.
Arzybek Kozhoshev, the First Deputy Prime Minister of Kyrgyzstan, highlighted that the country is highly interested in creating a positive business environment that would attract Saudi companies in renewable energy, as well as in other sectors.
The investments represent a great interest for both sides since Kyrgyzstan is actively recovering from the COVID-19 pandemic and the economic growth is expected to exceed five percent. Given the fact that Saudi renewable energy giant ACWA Power is already active in the region of Central Asia, further cooperation with the Kyrgyz Government has everything to be extremely productive and further strengthen Saudi companies’ positions in the region.
According to Nursultan Oronbayev, General Adviser to the Kyrgyz Minister of Trade, the country wants future cooperation with Saudi Arabia to reach beyond renewable energy and be more comprehensive. Therefore, Kyrgystan welcomes Saudi investments in several fields that also include agriculture, transport, electronic industries, tourism, culture and sports.