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Uzbekistan plans to attract $3 billion into the electrical engineering industry

Shavkat Mirziyoyev reviewed proposals aimed at developing the electrical engineering industry and supporting the production of competitive products. This was reported by the presidential press service.

The volume of electrical appliance production in Uzbekistan has increased more than ninefold since 2018 — from 4.7 trillion to 43.1 trillion soums. Goods produced in the country are supplied to 65 countries, and the industry’s total export revenue has exceeded $1 billion.

Since the beginning of this year, industry enterprises have produced another 30 trillion soums worth of goods and exported $706 million worth. Sixteen enterprises worth $148 million have begun operations, creating around 1,200 jobs.

Up to 80% of demand for household appliances is met by local products. At the same time, 30% of the appliances produced in the country are exported.

Production of such products as solar panels, high-voltage cables and disconnectors, charging stations for electric transport, vacuum circuit breakers, and heat pumps has been mastered. At the same time, the share of low-margin goods is declining.

By the end of the year, the goal is to bring production volume to 51 trillion soums and exports to $1.6 billion (approximately 60% more than last year). The commissioning of 67 projects worth $420 million is expected.

During the presentation, plans were also considered to expand production in the electrical engineering and related industries to $11 billion by 2030, and exports to $5 billion. Investments in the sector should reach $3 billion, and the share of added value in copper products should be 35%.

It was emphasized that the necessary raw material resources and sales markets are available to achieve these goals. Currently, Uzbekistan produces 150,000 tons of copper cathodes annually, and thanks to the launch of new capacities, their volume will reach 300,000 tons.

One of the key drivers for the industry is the development of the energy sector. The planned launch in the coming years of solar and wind power plants with a total capacity of 15 GW should create a market for orders for electrical engineering products worth up to $500 million per year.

Earlier, Spot wrote that from 2027 Uzbekistan will become a permanent member of the International Electrotechnical Commission.

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