He has been appointed adviser to the Prime Minister of Uzbekistan.

Khodjayev was born in 1956 in Tashkent. In 1979 he graduated from the Tashkent Institute of Railway Transport Engineers

In 2005-2006, he worked as a state adviser to the President on socio-economic issues. In 2006-2009, he served as Minister of Economics.

In 2009-2011, he was a Deputy Prime Minister – Chairman of the State Committee for Architecture and Construction. In 2011-2016, Khodjayev worked as First Deputy Minister of Economics. 

Since 2019, he had been heading the Ministry of Economy and Industry.