Azerbaijani companies plan new investments in Uzbekistan

Tashkent, Uzbekistan (UzDaily.uz) — Azerbaijani companies plan to implement a number of projects in Uzbekistan covering mining, geological exploration, raw-material processing, energy, construction, agriculture, tourism and finance. The initiatives are part of a package of agreements signed with the Azerbaijani side, Uzbekistan’s Ministry of Investment, Industry and Trade press service said.

AzerGold plans to participate in the development of the Akba gold deposit in Kitab district of Kashkadarya region. The company has also signed an agreement to conduct geological exploration at prospective sites in Nurata district of Navoi region.

According to Uzbekgeology Exploration, more than 13 tonnes of commercial gold reserves were calculated at the Akba deposit in 2025 and included in the State Balance. The company estimates that further exploration could identify up to another 50 tonnes of gold at the site.

SOCAR continues geological exploration at the Terengkuduk, Boyterak, Birkori, Haroy, Kulboy and Karakalpak blocks in Muynak and Kungrad districts of Karakalpakstan.

Another project involves the construction of a processing plant for silver-bearing ore in Pap district of Namangan region jointly with Sur Gold and Silver Project.

A project to extract rare-earth metals is planned in Navoi, Tashkent and Jizzakh regions. Azerbaijan’s NEQSOL Holding will participate as a partner. In June 2026, the company signed an agreement with Uzbekistan’s Ministry of Mining Industry and Geology on the joint development of critical minerals, including strategic raw materials such as titanium. The agreement provides for identifying priority sites and applying modern technologies and international standards.

In Ferghana, Baku Oltin plans to establish jewelry production. A similar project by Sur Gold and Silver Project is planned in Almazar district of Tashkent.

The development of jewelry production comes amid growth in industry exports. According to the Ministry of Investment, Industry and Trade, Uzbekistan exported US$685 million worth of jewelry in January-June 2026, up 2.8 times from the same period last year.

In the energy sector, SOCAR and Uzbekneftegaz plan to develop a network of filling stations across Uzbekistan. As part of their cooperation, the presidents of the two countries previously launched the construction of five filling stations.

In industry, the agreements provide for the establishment of facilities producing dry construction mixtures and drywall in Kamashi district of Kashkadarya region.

In agriculture, the plans include the creation of a 1,000-hectare intensive fruit orchard in Turakurgan district of Namangan region, as well as the development of agricultural storage and processing infrastructure. GFF Langar plans to build a cold-storage facility and fruit-processing capacity in Turakurgan district. AXB-Fruits will modernize a cold-storage facility in Kuva district of Ferghana region, while Gold Fresh Fruits will establish a fruit orchard in Pap district of Namangan region.

Azerbaijani companies have also announced plans in construction and tourism. TuranAZ plans to develop the Baku City residential complex in Davlatabad district of Namangan region. Agalarov Development plans to build a multi-storey residential complex in Mirabad district of Tashkent, while Hidro İnşaat Servis plans to construct multi-storey residential buildings in Yunusabad district.

Agalarov Development is also participating in the Sea Breeze Uzbekistan international tourism center project in Bostanlyk district of Tashkent region.

PASHA Holding plans to develop the five-star The Ritz-Carlton hotel and Baku Tower apartments in Chilanzar district of Tashkent. In addition, a park called Azerbaijan is planned for New Tashkent jointly with Azerbaijan’s State Committee for Urban Planning and Architecture.

In the banking sector, the International Bank of Azerbaijan (ABB) will participate in the development of Davr Bank in Tashkent by acquiring a controlling stake in the bank.

In education, Landau Education Group plans to establish a network of Landau STEM schools in Tashkent. The first project from the announced list is planned for Mirabad district.