TASHKENT—The Azerbaijan-Uzbekistan Investment Company officially inaugurated its office in Tashkent, marking a significant step in economic collaboration between the two nations. The opening ceremony was attended by Azerbaijan’s Minister of Economy Mikayil Jabbarov and Uzbekistan’s Minister of Investment, Industry, and Trade Laziz Kudratov, along with representatives from various institutions of both countries.

According to Azeri-Press News Agency, the Azerbaijan-Uzbek Investment Company was registered in Uzbekistan in December 2023 as the “Azerbaijan Uzbek Investment” LLC Joint Venture. The company’s mission is to support business growth by acquiring up to 49% of the capital in companies engaged in a range of economic activities. Headquartered in the “Trilliant Tower 1” Business Center, the company boasts an authorized capital of $500 million.

The joint venture aims to promote import-substituting and high-tech production, increase trade turnover between Azerbaijan and Uzbekistan, develop processing industries and innovations, and attract foreign investments.