Uzbekistan plans to increase electrical equipment exports to $3 billion annually

By the end of 2024, electrical device production accounted for 3.5% of the total industrial output, valued at 31 trillion UZS. The sector’s export revenue reached $1.3 billion, representing 10% of Uzbekistan's total industrial exports.

In total, 85 new enterprises have been established, attracting foreign investments of $516 million. According to Mirziyod Yunusov, head of "Uzeltechsanoat," the country plans to secure an additional $600 million in investments this year and launch 290 new initiatives.

The share of copper processed within the country is expected to increase to 75%. Significant infrastructure has been developed in the electrical engineering clusters, with investments totaling 181 billion UZS.

In technopark areas, construction of pre-built buildings will be permitted for sale to companies in the electrical engineering and related sectors. Enterprises that adopt high-tech production methods will be exempt from profit and property taxes for three years.

As part of these efforts, projects worth $68 million are expected to be launched in the Akhangaran copper cluster, with additional initiatives totaling $30 million planned for Kashkadarya, Fergana, and Urgench, where branches of the Eltech Industrial technopark are located.

The implementation of these projects is expected to increase the annual production of electrical equipment to 50 trillion UZS and exports to $3 billion. Additionally, a framework is being developed to facilitate the purchase of "green" energy equipment from local producers for social infrastructure projects.

The President has also instructed the adoption of further measures to improve infrastructure, material, and financial conditions for businesses. Discussions also focused on developing innovative products and training qualified personnel.