Uzbekistan is set to attract foreign investors and launch a major expansion of its critical minerals sector, with plans to implement 120 projects worth a combined $4.2 billion between 2026 and 2030.

The ambitious program aims to transform the industry into a key driver of economic growth, with the sector expected to reach a value of $1 billion by 2028 and $2 billion by 2030, The Caspian Post reports via Anhor.

President Shavkat Mirziyoyev reviewed a strategy focused on expanding the country’s resource base of strategically important minerals and increasing the production of high-value-added products.

This year alone, Uzbekistan plans to launch 12 projects worth $166 million. The initiatives will introduce the production of selenium, tellurium, and rhenium-metals not previously manufactured in the country-and support the creation of 21 types of import-substituting products, including components for the automotive industry.

A major focus will be the establishment of a full production chain for tungsten and molybdenum, covering everything from raw material processing to the manufacture of metal powders, alloys, wire products, and finished goods.

The government also plans to expand the “Future Metals” technopark and research center in Chirchiq, accelerate geological exploration, adopt digital technologies, strengthen workforce training, and attract international investment to support the industry's long-term development.