Uzbekistan Aims to Boost Industrial Production Through Major Investment Projects by 2028

Tashkent, Uzbekistan (UzDaily.com) — The Government of Uzbekistan forecasts an average annual growth in industrial production of at least 6.5% during 2026–2028. This growth is expected to be driven by structural projects in metallurgy, automotive manufacturing, power generation, and the electrical engineering industry, according to the draft budget published by the Ministry of Economy and Finance.

In the metallurgical sector, five major projects worth a total of US$1.2 billion are planned at the Navoi Mining & Metallurgy Combinat, while four projects totaling US$2.5 billion will be launched at the Almalyk Mining & Metallurgy Combinat, aimed at increasing copper cathode and gold production.

In the automotive industry, passenger car output is expected to rise 1.5 times to 700,000 units.

In the power sector, by 2028, new capacities with a total installed capacity of 11.7 GW are planned. This includes 2 GW of photovoltaic plants, 5.4 GW of wind power, 3.7 GW of modern thermal power plants developed under public-private partnerships, and 560 MW of energy storage systems. Overall electricity generation is projected to reach 108.5 billion kWh.

At the same time, outdated thermal power units with a combined capacity of 3.2 GW will be gradually decommissioned: 1 GW in 2025 and 160 MW in 2026.

In the electrical engineering sector, new high-tech production facilities worth US$3.3 billion across 121 sites are planned.

Copper processing is expected to exceed 145,000 tonnes (a 1.3-fold increase), while output of electrical engineering products is projected to grow 1.4 times. The share of added value in the industry is expected to rise from 21% to 30%.

The draft budget emphasizes that the implementation of these initiatives will ensure structural modernization of industry and improved production efficiency.