TASHKENT, Uzbekistan, February 23. Uzbekistan and Russia plan to create a joint investment fund with authorized capital of $500 million, Trend reports.
This was announced at a meeting between Uzbek and Russian presidents Shavkat Mirziyoyev and Vladimir Putin in Kazan (Russia) on February 21.
The sides discussed the development of bilateral cooperation. They expressed satisfaction with the positive dynamics in trade and implementation of projects in various spheres.
President of Russia noted that the establishment of a fund with the authorized capital of $500 million could become an effective tool for the implementation of cooperation plans.
In addition, the presidents discussed cooperation in the development of transport corridors and confirmed interest in Russia's participation in the construction of a new railroad through Afghanistan.
Uzbekistan also expressed plans to attract $5 billion worth of investments with Russia's participation in 2024, noting the potential for investment in various projects worth $45 billion in the country.
Meanwhile, trade turnover between Uzbekistan and Russia amounted to $9.8 billion in 2023.
The share of Russia's investments and loans in 2023 in Uzbekistan's economy fell to 13.4 percent of total foreign investments in the country a year earlier (20.3 percent).