Shavkat Mirziyoyev: Kashkadarya region attracted $7 billion in foreign investment over five years

Uzbekistan has attracted $7 billion in foreign investment to the Kashkadarya Region over the past five years, where Azerbaijan's state-owned company AzerGold plans to develop the Akba gold deposit, Uzbek President Shavkat Mirziyoyev said at a meeting with foreign investors during his working visit to the region.

According to Report, chairman of the Board of AzerGold CJSC Zakir Ibrahimov also attended the meeting.

At the meeting, Mirziyoyev discussed with foreign partners the prospects for industrial development in Kashkadarya and attracting investment. According to the president, 20 trillion soums in domestic investment had also been directed to the region over the past five years.

As part of the initiatives presented, 161 projects worth more than $6 billion have been prepared. Of these, 69 facilities have already been commissioned, while construction has begun on another 92. The Uzbek president stressed the need to deepen raw material processing and introduce modern technologies.

"2027 will be the year of Kashkadarya's development based on modern industry and agricultural technologies," Mirziyoyev said.

A gold-mining project involving the Azerbaijani side is planned for the Kitab district of the Kashkadarya Region.

On October 21, AzerGold announced the registration of its first overseas subsidiary, AzerGold Uzbekistan, in Uzbekistan. The company will focus on geological exploration, mineral resource assessment and studying the commercial prospects of developing the Akba deposit.

According to the Uzbek side, recoverable gold reserves at the deposit exceed 13 tonnes, while further exploration could identify potential reserves of up to another 50 tonnes.

In June 2026, AzerGold and Uzbekistan's Ministry of Mining Industry and Geology signed a framework agreement on the joint development of Akba. The company is also expanding cooperation with Uzbek partners on geological exploration of promising sites in the Navoi Region.

After obtaining the necessary permits, AzerGold plans to conduct geological exploration at Akba over approximately 18 months. Based on the results, a feasibility study and an investment proposal will be prepared to assess the prospects for commercial development of the deposit.