Uzbekistan Targets $5 Billion in Electrical Engineering Exports as Mirziyoyev Unveils $11.6 Billion Development Plan
TASHKENT, November 9:President of Uzbekistan Shavkat Mirziyoyev has announced an ambitious plan to transform the country’s electrical engineering industry through advanced technologies, major investments, expanded production and stronger export capabilities.Chairing a dialogue with domestic entrepreneurs and foreign investors operating in the electrical engineering sector, the President reviewed the industry’s achievements over the past decade and outlined new priorities to accelerate its technological development.Over the past 10 years, the sector has attracted $2 billion in investment, resulting in the establishment of 413 new production facilities and the launch of more than 100 new product categories, including household appliances, solar panels, electronic meters and high-voltage transformers.Electrical engineering production has increased dramatically, reaching 50 trillion soums this year compared with 1.7 trillion soums in 2016.
Annual investment has grown to $600 million, while exports have reached $1.6 billion, representing a 14-fold increase.President Mirziyoyev stressed that the country must move beyond expanding production capacity and focus on technological innovation, high-value-added manufacturing and the development of competitive domestic products.With Uzbekistan planning to implement $450 billion worth of projects across various economic sectors over the next decade, significant opportunities are emerging for domestic electrical engineering manufacturers.Particular attention was given to equipment required for renewable energy projects, including energy storage systems, solar and wind power facilities. Uzbekistan aims to increase its energy storage capacity to 4.5 gigawatts by 2030.The meeting also highlighted opportunities to establish domestic production of video surveillance systems, ATMs, inverters, electric vehicle chargers, energy-efficient motors, server cooling systems, electronic components and other advanced equipment.
The President emphasized that developing these industries could help increase Uzbekistan’s electrical engineering exports to $5 billion.Under the new development strategy, 164 projects worth a combined $11.6 billion will be implemented over the next three years. These initiatives will cover six major areas, including energy infrastructure, cables and transformers, industrial robotics, transport electrification, microelectronics and household appliances.To encourage high-tech manufacturing, a Future Technologies Center will be established in Nurafshan. Enterprises operating there will receive incentives similar to those offered to IT Park residents, including exemptions from import duties on essential components and tax benefits for research and development activities.A national platform, titled “New Industry,” will also be developed to strengthen cooperation between scientific institutions, universities and industrial enterprises. Regional facilities will be established to test new products and support innovation.Engineering education and workforce development were identified as essential priorities. Under the upcoming “1,000 Design Engineers” programme, Uzbek specialists will receive advanced training in South Korea, Japan, China, Türkiye and European countries. The initiative will also seek to attract highly qualified Uzbek professionals working abroad back to their homeland.Financing opportunities will be expanded through cooperation with international financial institutions.
The European Bank for Reconstruction and Development (EBRD), which has already provided $80 million to several domestic enterprises, has expressed readiness to extend an additional $2 billion to $3 billion in financing to industrial companies.New support mechanisms will help businesses prepare for international financial markets, including compensation of up to $50,000 per enterprise for international consultancy and assessment services.The government will also introduce reforms to public procurement, with three-year procurement plans to be published in advance from January 1. The new system will consider not only the initial purchase price but also energy efficiency, maintenance, repair and operational costs.Furthermore, requirements for locally manufactured products will be strengthened in energy and investment projects, creating additional opportunities for domestic producers.To stimulate consumer demand, a new loan programme will offer financing at an annual interest rate of 18 percent for locally manufactured refrigerators, washing machines, air conditioners and other household appliances.Concluding the dialogue, President Mirziyoyev heard proposals from domestic entrepreneurs and foreign investors, reaffirming the government’s commitment to transforming Uzbekistan’s electrical engineering industry into a modern, technology-driven and export-oriented sector.
