On October 21, 2026, a meeting with foreign investors was held as part of President of the Republic of Uzbekistan Shavkat Mirziyoyev's working visit to the Kashkadarya region, APA-Economics reports.
The meeting discussed expanding the region's industrial and agricultural potential, attracting new investments, and introducing modern technologies.
Addressing the industrial development prospects of the Kashkadarya region, the President of Uzbekistan stated that 20 trillion soums in domestic investment had been directed to the region over the past five years. A total of 161 investment projects worth more than $6 billion have been developed. Of these, 69 have already been commissioned, while construction work has begun on the remaining 92 projects.
Shavkat Mirziyoyev emphasized the importance of deeper processing of raw materials, introducing modern technologies, and developing value-added production sectors. He stated that 2027 would be the year of development of the Kashkadarya region based on modern industry and agricultural technologies.
The meeting also focused on developing the Azerbaijan-Uzbekistan strategic partnership and expanding economic cooperation. Speaking at the meeting, Chairman of the Board of AzerGold CJSC Zakir Ibrahimov provided information on the activities of the company's first foreign subsidiary established in Uzbekistan, AzerGold Uzbekistan Limited Liability Company with Foreign Investment, and the prospects for the development project of the Akba gold deposit located in the Kashkadarya region.
It was noted that an investment of $7.8 million is planned for preparatory and additional geological exploration work at the initial stage of the project. The investment required for subsequent stages of preparing the deposit for exploitation is projected to amount to at least $100 million.
According to preliminary estimates, the project has the potential to create up to 200 new jobs. The final investment decision on the project is planned for 2028. It was noted that preliminary assessments regarding investment volume, production indicators, and employment opportunities will be refined based on the results of additional geological exploration, mineral resource assessment, technical and economic analysis, and project design.
The Akba project is important in terms of expanding cooperation between Azerbaijan and Uzbekistan in the mining sector, ensuring the efficient use of mineral resources, and increasing mutual investment opportunities. The implementation of the project will also enable AzerGold CJSC to expand its international activities and apply the company's professional experience in foreign markets.
It should be recalled that, in addition, a cooperation document on conducting joint geological exploration in promising mineral areas of Uzbekistan was signed on July 17, 2026, between AzerGold CJSC, Uzbekgeologorazvedka JSC, and the Azerbaijan-Uzbekistan Investment Company.
Work is currently underway to establish a joint venture to conduct exploration in areas between the cities of Navoi and Nurata. At the same time, the parties are discussing opportunities for the joint exploration and development of other promising mineral deposits located in Azerbaijan and Uzbekistan.
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