Uzbekistan Plans Major Industrial Investments for Growth

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan plans to achieve average annual industrial production growth of at least 6.5–7% in 2027–2029 through major investment projects in metallurgy, the automotive industry, electrical engineering, and power generation, according to the Fiscal Strategy for the three-year period.

In metallurgy, five major projects worth a total of US$1.2 billion are planned for implementation at the Navoi Mining and Metallurgical Combine over the next three years, while four projects valued at US$2.5 billion are scheduled for the Almalyk Mining and Metallurgical Complex.

In the automotive industry, passenger car production is planned to increase 1.5-fold to 700,000 units per year. In the electrical engineering sector, 121 new high-tech manufacturing facilities worth US$3.3 billion will be created. As a result, copper processing volume will grow 1.3-fold and exceed 145,000 tonnes, electrical product output will increase 1.4-fold, and the sector's value-added share will rise from 21% to 30%.

In the electric power sector, the commissioning of 11.7 GW of additional capacity is planned by 2028, including 5.4 GW of wind and 2 GW of solar power plants, 3.7 GW of modern thermal power plants, and 560 MW of energy storage systems. Electricity generation is expected to reach 108.5 billion kWh.

Market services are projected to grow by 14.3–15% annually, becoming a key driver of economic growth alongside industry, which is forecasted at 6.9–7.4% in 2027–2029.