Uzbekistan has announced plans to increase its annual car production to 510,000 units, complemented by measures to reduce auto loan interest rates and expand lending in order to meet growing domestic demand. These directives were issued during a high-level meeting chaired by President Shavkat Mirziyoyev, focused on accelerating economic growth across various sectors and regions of the country.

In 2025, Uzbekistan’s GDP exceeded $147 billion, reflecting a 7.7% year-on-year increase, The Caspian Post reports, citing Uzbek media.

Efficiency improvements, driven by the adoption of energy-saving technologies and an increase in high value-added projects, contributed to a 15% reduction in energy costs per $1 of added value.

Agricultural performance also improved, with average income per hectare reaching $5,000, while labor productivity increased by 4.7%. The services sector continued to serve as the primary engine of growth, accounting for more than half of the annual GDP expansion.

Looking ahead, President Mirziyoyev projected GDP growth for 2026 at 6.6%, targeting $167 billion. This cautious forecast considers ongoing geopolitical conditions and potential economic fluctuations. He emphasized that growth could be accelerated through innovation, the adoption of digital technologies, support for startups, and more efficient resource utilization, while warning against overreliance on automated economic planning.

Over the past three years, the share of industry in value-added output increased from 40.7% to 43%. However, key sectors still lag behind the overall industrial average: the automotive industry accounts for 20.7%, electrical engineering for 29.3%, and food processing for 30%.

Uzbekistan’s automobile plants collectively have a production capacity of 650,000 vehicles per year, yet actual output remains considerably lower. President Mirziyoyev instructed officials to raise production to 510,000 vehicles annually. Plans also include the organization of 763 new types of auto components through collaboration with local enterprises. To stimulate demand, authorities have been tasked with reducing auto loan interest rates and increasing the volume of lending available to buyers.

The meeting further highlighted growing demand for agricultural machinery, including gardening tractors, harvesters, and seedling planters. Farmers have expressed willingness to purchase up to 15,000 units annually, provided the Chirchik cluster reaches full production capacity, offers competitive pricing, and facilitates convenient leasing options.

President Mirziyoyev urged officials to comprehensively review opportunities in the automotive sector and to revise the industry production program to ensure a 10.5% increase in output, reflecting the government’s commitment to strengthening industrial growth and meeting rising domestic demand.