The same day, Mirziyoyev reviewed a presentation on the development of the electrical engineering industry and measures to support the production of competitive products.
The sector’s output reportedly rose from UZS 4.7 trillion in 2018 to UZS 43.1 trillion, while exports surpassed $1 billion. Uzbekistan now exports electrical engineering products to 65 countries.
The sector is also shifting toward higher-value production. Output and exports of copper products are growing, while the share of lower-margin goods is falling. Domestic manufacturers now cover 80% of demand for household appliances, and 30% of their output is exported. Companies in the sector have also begun producing hundreds of new products, including solar panels, high-voltage cables, electric vehicle charging stations, vacuum circuit breakers, high-voltage isolators and heat pumps.
By the year-end, the sector is expected to produce UZS 51 trillion worth of goods, increase exports to $1.6 billion and launch 67 projects.
The presentation outlined plans to raise production in the electrical engineering and related sectors to $11 billion and exports to $5 billion by 2030. The plans also call for attracting $3 billion in investment and increasing the share of value added in copper products to 35%.
Uzbekistan has the raw materials and market needed to achieve these targets. The country currently produces more than 150,000 tons of copper cathodes a year, with output expected to reach 300,000 tons as new production facilities come online. The plans also envisage launching solar and wind power plants with a combined capacity of 15 GW, creating an estimated $500 million-a-year market for electrical engineering products.
The presentation also highlighted several areas requiring further attention. As stated in the press release, some enterprises lack sufficient collateral to secure working-capital loans, while more convenient financial instruments are needed to purchase copper raw materials through the exchange. The presentation also noted the need to expand guarantee mechanisms to attract major international brands. At the same time, growing housing construction is driving increased demand for electrical engineering products.
Under the proposed arrangement, enterprises purchasing copper raw materials would pay 25% of the cost, while Uzsanoatexport JSC would cover the remaining 75%. The enterprises would then have 90 days to repay the funds at an annual interest rate of up to 6%. A total of $50 million would be allocated for this purpose. The proposed measures would also allow other forms of collateral, including export contracts and insurance policies, to be accepted when providing loans. Part of the loans issued in national or foreign currency for investment projects would be covered through compensation over a three-year period.
