Uzbekistan secures long-term lease of Issyk-Kul resorts

Uzbekistan has officially secured a long-term lease of four resorts on Kyrgyzstan’s Issyk-Kul Lake following the approval of a bilateral agreement by President Shavkat Mirziyoyev. The deal, signed between the governments of Uzbekistan and Kyrgyzstan, grants Uzbekistan control over the resorts for a period of 49 years.

Photo: w-sail.com

President Mirziyoyev’s decree ratifying the agreement follows earlier discussions between the two nations. Kyrgyzstan’s President Sadyr Japarov had previously announced the transfer of four resorts on Issyk-Kul to Uzbek investors under a 49-year lease agreement.

The resorts included in the agreement are "Golden Sands," "Dilorom," "Rohat," and the unfinished "Buston" facility. Uzbek investors are expected to carry out extensive renovations on these properties, upgrading them to three- or four-star standards to attract more tourists to the region.

A key provision of the agreement stipulates that at least 80% of the workforce employed at the resorts must be Kyrgyz nationals, ensuring that the local economy benefits from the arrangement.

The agreement was initially signed on July 18, 2024, during President Japarov’s official visit to Uzbekistan. Kyrgyzstan’s Cabinet of Ministers approved the deal on September 23, 2024, finalizing the terms for the transfer.

This collaboration highlights the strengthening of economic ties between Uzbekistan and Kyrgyzstan, with both countries seeking to enhance tourism and cross-border investments.