Uzbekistan’s Electrical Equipment Production Reaches UZS 31 Trln

Uzbekistan’s enterprises produced electrical equipment worth UZS 31 trln in 2024, as reported to President Shavkat Mirziyoyev during a meeting on the development of the sector.

Last year the country exported electrical equipment totalling $1.3 bn, while investments in the industry reached $516 mn.

According to the plans of the UzElectroIndustry Association, 290 projects worth $4 bn are set to be launched this year. Investments in electrical equipment production are expected to total $600 mn. Overall, $75 bn in investment projects is planned, with $28 bn allocated to localisation programmes.

Entrepreneurs are now permitted to construct buildings in technoparks and sell them to enterprises in the electrical and related industries.

Businesses implementing high-tech production will be exempted from corporate profit and property taxes for three years.

These initiatives aim to establish projects worth $68 mn in the Akhangaran Copper Cluster and $30 mn in Kashkadarya, Fergana, and Urgench.