Official: Azerbaijani company to build $300 million hotel in Tashkent

An Azerbaijani firm is constructing a hotel in Uzbekistan’s capital, Tashkent, with an investment of approximately $300 million, reflecting deepening economic and tourism ties between the two nations.

Sharof Rakhmanov, Deputy Hokim (deputy mayor) of Tashkent, announced the development during the panel session “Azerbaijan – Uzbekistan: Vector of Economic Partnership,” held as part of the 4th Tashkent International Investment Forum, Caliber.Az reports citing local media.

Rahmanov highlighted the expanding bilateral trade and economic relations, noting that about 200 enterprises with Azerbaijani capital operate in Tashkent, while a similar number are registered in Baku. The current trade turnover between the two countries stands at around $150 million.

Tourism remains a key area of cooperation, with Tashkent annually welcoming approximately 10,000 Azerbaijani visitors, nearly matching the number of Azerbaijani tourists who travel to Azerbaijan.

The deputy hokim also confirmed plans for national centres representing Uzbekistan in Baku and Azerbaijan in Tashkent. These centres are expected to feature park zones, commercial and entertainment complexes, as well as residential spaces, with entrepreneurs from both countries involved in their realisation.

In a related announcement, Yusif Abdullayev, Executive Director of the Azerbaijan Export and Investment Promotion Agency (AZPROMO), revealed that reciprocal parks named “Uzbekistan” in Baku and “Azerbaijan” in Tashkent will be established as symbols of friendship and mutual respect.

Abdullayev noted that in early June, Shavkat Umurzakov, Mayor of Tashkent and a close associate, visited Baku for a working trip, during which they inspected the plot in the White City area earmarked for the “Uzbekistan” park.

He added that an Azerbaijani delegation is scheduled to visit Tashkent later this month to review the site planned for the “Azerbaijan” park, intended to serve as a cultural bridge between the two capitals.

By Aghakazim Guliyev