TASHKENT, December 3. /TASS/. The portfolio of joint investment projects between Uzbekistan and Russia exceeds $55 billion, Deputy Prime Minister of Uzbekistan Jamshid Khodjaev said at the 26th meeting of the Intergovernmental Commission on Cooperation between the countries, a TASS correspondent reported.

According to Khodjaev, Uzbekistan expects to absorb approximately $5 billion in Russian investment by 2026. Currently, according to the Deputy Prime Minister, the volume of Russian investment has reached approximately $4 billion. The number of enterprises with Russian capital in the country has exceeded 3,100, and more than 300 new joint ventures have been created in the past year.

"The total portfolio of joint investment projects with Russia exceeds $55 billion. Moreover, in 2026 alone, we expect to absorb approximately $5 billion in Russian investment. I believe this is a significant foundation that should yield tangible returns in the form of new production facilities, jobs, and tax revenues," Khodjaev said.

As it was earlier reported, trade turnover between Russia and Uzbekistan exceeded $11 billion by the end of 2024, which is almost double the volume that was six years ago.

In January-October 2025, trade turnover exceeded $10 billion and is expected to reach $12 billion by the end of 2025.

The 26th meeting of the Intergovernmental Commission on Cooperation between Uzbekistan and Russia was held in Tashkent. The meeting was co-chaired by Khodjaev and First Deputy Prime Minister of the Russian Federation Denis Manturov.