Uzbekistan and Tajikistan Forge $135 Million Investment Path

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The Uzbek-Tajik Investment Company plans to implement 14 projects with a total value of $135 million, according to the Ministry of Investment and Foreign Trade, Azernews reports, citing Kun.uz news agency.

On April 17, in Dushanbe, ahead of the official visit of President Mirziyoyev, an Uzbek-Tajik investment business forum took place, co-chaired by Deputy Prime Minister Jamshid Khodjaev.

Over recent years, trade turnover has tripled to $750 million, and since the beginning of the year, it has increased by another 40%. In the near future, the parties plan to increase mutual trade to $2 billion.

Since 2017, the number of joint ventures has almost increased 22-fold—from 17 to 370 companies. Uzbekistan and Tajikistan are implementing joint projects to create a trade zone at the border point “Oybek-Fatehabad”, construct the trade and logistics center “Andarkhan”, and build two hydroelectric power stations in the Zarafshan market on Tajik territory.

Among the most promising sectors are metallurgy, mining, development and processing of minerals, wind and solar power generation, hydropower, machinery and electrical equipment manufacturing, the agro-industrial complex, and the light industry.

Following the business forum, a package of bilateral documents was signed, on which basis a roadmap will be developed for the implementation of each project.

The Uzbek-Tajik Investment Company was established in September 2021. Initially, the company’s authorized capital consisted of $12 million, which was later increased to $50 million. The Reconstruction and Development Fund provided 75% of the authorized capital, while “TajInvest” provided the remaining 25%.

The board of directors of the investment company from Uzbekistan then included the head of the Ministry of Investment and Foreign Trade Sardor Umurzakov, First Deputy Minister Laziz Kudratov, and Director of the Reconstruction and Development Fund Shukhrat Vafoev.

Source: Azer News