Deputy minister: Value of existing projects between Uzbekistan and Azerbaijan reaches $6B

The total number of ongoing and prospective projects between Uzbekistan and Azerbaijan amounts to $10 billion, Khurram Teshabayev, Deputy Minister of Investments, Industry and Trade of Uzbekistan, said in an interview with Report.

The deputy minister also outlined five strategic areas of this investment portfolio.

"Urban development and tourism are among the fastest-growing areas. Large-scale residential, commercial, and hospitality projects are being implemented, many involving international developers.

Mining and geological exploration also occupy an important place, laying the foundation for long-term investment and resource development.

Industrial cooperation in agriculture remains another priority. The creation of agro-industrial clusters and facilities for deep processing of agricultural products will increase value added within the region and boost exports of processed goods.

Cooperation is also expanding in the automotive and electrical engineering industries through greater production localization, joint vehicle assembly, and the development of new manufacturing capacities, helping establish regional supply chains.

The textile industry also remains strategically important, with joint projects focused on deeper processing of raw materials, expanding exports, and creating new jobs.

The current investment portfolio already includes more than 20 active projects worth approximately $6 billion, along with over 25 prospective initiatives valued at nearly $1.5 billion that are at various stages of preparation.

Among the flagship projects are the construction of an international tourist center on the shores of the Charvak Reservoir with Agalarov Development worth $5 billion, the development of The Ritz-Carlton hotel in Tashkent with PASHA Holding investing $200 million, the establishment of a cotton-textile cluster by Global Textile in Azerbaijan worth $104.8 million, geological exploration projects with SOCAR in the Ustyurt region totaling $76 million, and the construction of facilities producing dry construction mixes and gypsum boards in the Kashkadarya region with investments of $50 million.

These projects demonstrate that the investment portfolio is already being implemented and continues to expand through new joint initiatives in priority sectors," he added.

Full interview available here