Accra:A meeting with foreign investors took place during President Shavkat Mirziyoyev’s working visit to the Kashkadarya region. The discussions focused on enhancing the region’s industrial and agricultural potential, attracting new investments, and implementing modern technologies.
According to Azerbaijan State News Agency, President Mirziyoyev highlighted the allocation of 20 trillion soums to Kashkadarya over the past five years, resulting in 161 projects worth over USD 6 billion. Out of these, 69 projects have been completed, and construction is underway on 92 additional facilities. The President emphasized the significance of deeper raw material processing and adopting modern technologies, declaring 2027 as the year for Kashkadarya’s development through modern industry and agrotechnologies.
The meeting also addressed the Azerbaijan-Uzbekistan strategic partnership. Zakir Ibrahimov, Chairman of AzerGold CJSC, presented the activities of ‘AzerGold Uzbekistan’ Foreign Enterprise LLC and outlined the development prospects for the Akba gold deposit in Kashkadarya. Initial investment for geological exploration is set at USD 7.8 million, with total investment projected to reach at least USD 100 million, potentially creating up to 200 jobs. The final investment decision is expected in 2028, with further assessments pending additional geological exploration and technological evaluations.
The Akba project is pivotal for enhancing Azerbaijan-Uzbekistan cooperation in mining, resource utilization, and mutual investments. AzerGold CJSC plans to extend its international operations, leveraging its expertise in foreign markets. A cooperation agreement was signed in 2026 among AzerGold CJSC, Uzbekgeologorazvedka, and the Azerbaijan-Uzbekistan Investment Company to explore and develop mineral resources in both countries. A joint venture is being established for geological exploration around Navoi and Nurata, with potential expansion into other areas of mutual interest.