Uzbekistan Targets $3 Billion in Electrical Equipment Exports by 2026

Uzbekistan has set an ambitious goal to increase its electrical equipment exports to $3 billion by 2026.

President Shavkat Mirziyoyev has approved measures to support the electrical engineering industry and boost its investment and export potential, according to the Ministry of Justice, The Caspian Post reports, citing Uzbek media.

Under the presidential decree, Uzbekistan aims to establish exports of electrical appliances to 80 countries by 2026 and increase their total volume to $3 billion. By 2030, the country also plans to place 225,000 tons of copper raw materials on the stock exchange annually.

The Entrepreneurship Development Company will provide guarantees for loans issued to electrical engineering companies in 2026-2027 in any currency, covering up to 50% of the loan amount (up to UZS 10 billion).

Producers will also be eligible for interest compensation on loans used to purchase copper and replenish working capital. Subsidies will cover part of the interest on loans up to UZS 20 billion:

• for UZS-denominated loans with rates exceeding the Central Bank’s base rate by no more than double - up to 6% (from 4% to 10% above the base rate);
• for foreign currency loans - up to 5% (from 6% to 11% per annum).

Earlier in October, Chairman of Uzeltehsanoat Mirziyod Yunusov presented to the president plans to increase the production of electrical and electronic equipment. By 2030, copper output is expected to reach 500,000 tons, while the sector’s project portfolio is valued at $2.1 billion.