Uzbekistan-Azerbaijan Investment Portfolio Surpasses US$7.5 Billion

Tashkent, Uzbekistan (UzDaily.uz) — The aggregate investment portfolio between Uzbekistan and Azerbaijan comprises more than 20 active projects with a total value of approximately US$6 billion, along with over 25 prospective initiatives valued at nearly US$1.5 billion. The figures were shared by the Deputy Minister of Investments, Industry, and Trade of Uzbekistan, Khurram Teshabaev, in an interview with the Azerbaijani publication Report.az.

"A potential investment package of 10 billion dollars is not a forecasted or abstract figure, but a combination of already ongoing and prospective projects that reflect the high level of our economic partnership," the deputy minister emphasized.

The largest project within the portfolio is the creation of an international tourism center on the shores of the Charvak reservoir, involving Agalarov Development, with an estimated value of US$5 billion. In Tashkent, a five-star hotel complex under The Ritz-Carlton brand is being constructed with the participation of PASHA Holding, representing an investment of US$200 million.

Among other significant projects are the establishment of a cotton-textile cluster by Global Textile in Azerbaijan valued at US$104.8 million, joint geological exploration projects with SOCAR in the Ustyurt region amounting to US$76 million, and the organization of dry construction mixtures and gypsum board manufacturing in the Kashkadarya region with an investment of US$50 million.

Teshabaev identified urban development and tourism, mining and geological exploration, the agro-industrial complex, automotive manufacturing, the electrical engineering industry, and the textile sector as the primary driver industries fueling this joint investment portfolio.