Saudi Arabia and France to back Uzbekistan’s new $78 million green economy initiative

The agreement was finalized during the Fifth Tashkent International Investment Forum, which hosted a series of high-level discussions focused on solid waste disposal and circular economy development. Delegations from Central Asian countries and foreign partners gathered to plan cooperative initiatives aimed at streamlining waste management practices across the region.

Following the negotiations, a Head of Terms agreement was signed between Uzbekistan’s Agency for Waste Management and Circular Economy Development, Saudi Arabia’s Vision International Investment Company, and the French environmental services firm SUEZ International.

The document was inked by Sharifbek Hasanov, Director of the Agency for Waste Management and Circular Economy Development; Omar Al-Midani, President of Vision International Investment Company; and Silvère Delaunay, CEO for Europe and Central Asia at SUEZ International.

The $78 million project will center on advanced hazardous waste recycling operations. By deploying specialized processing technologies, the initiative aims to minimize ecological risks, boost the national waste recycling rate, and significantly strengthen environmental protection standards.

The Fifth Tashkent International Investment Forum drew more than 10,000 delegates and participants representing over 100 countries, showcasing the international community's growing confidence in the economic and environmental reforms underway in Uzbekistan.