President of Uzbekistan Shavkat Mirziyoyev has approved plans by Kuwait’s Action Group Holdings to build hydropower plants and social housing projects in Uzbekistan, according to Trend reports. The decision came on the sidelines of a meeting between President Mirziyoyev and Sheikh Mubarak Al-Sabah, Head of Action Group Holdings, where discussions also covered the company’s initiative to develop mineral resource processing in the country.

Founded in 1998, Action Group Holdings operates in various sectors including real estate, oil, information technology, logistics, construction, education, consulting, and trade. This ambitious project underscores the growing economic ties between Uzbekistan and Kuwait.

During a recent visit to Kuwait—from February 17 to 18—President Mirziyoyev engaged in high-level bilateral talks in Kuwait City, meeting with the Emir Mishal Al-Ahmad Al-Jaber Al-Sabah, government officials, and leaders from key Kuwaiti companies and financial institutions. The visit culminated in the signing of a joint declaration aimed at developing Uzbek-Kuwaiti relations into a comprehensive partnership.

Uzbekistan has been strengthening its political and economic engagement with Kuwait in recent times. In April 2024, Kuwaiti Foreign Minister Abdullah al-Yahya met with President Mirziyoyev, and throughout 2024, the two countries held five rounds of foreign ministerial negotiations. Economic agencies and business sectors have ramped up their interactions, with over 100 Uzbek entrepreneurs visiting Kuwait City last year, alongside multiple business conferences and “Made in Uzbekistan” exhibitions. Notably, trade turnover between Uzbekistan and Kuwait has quintupled over the past five years, and currently, seven companies with Kuwaiti investment operate in Uzbekistan. A 2024 agreement to streamline trade processes is expected to further enhance these dynamics.

This multifaceted cooperation is seen as a significant step toward harnessing the full economic potential of both nations and fostering regional development.