President of Uzbekistan approves an agreement with Azerbaijan

President of Uzbekistan Shavkat Mirziyoyev approved an intergovernmental agreement with Azerbaijan on the establishment of a joint investment fund with a capital of $500 million, Azernews reports.

According to the news, the agreement was signed on February 24, 2023 as part of the interregional forum of the two countries in Tashkent.

Azerbaijani President Ilham Aliyev approved the agreement in May.

The share of Azerbaijan in the capital of the fund will be 75%, Uzbekistan - 25%.

Minister of Investments, Industry and Trade Laziz Kudratov and Director General of the Agency for Strategic Development, Executive Director of the Fund for Reconstruction and Development Shukhrat Vafayev are members of the board of directors of the investment fund from Uzbekistan.