The Tashkent International Investment Forum (TIIF) witnessed a pivotal session dedicated to presenting investment projects in various sectors including industry, building materials production, and the food industry.
Uzbekistan's commitment to industrial development took center stage during the session. It was highlighted that the country places significant importance on enhancing its industrial sector. In 2023, over 69,400 operational industrial enterprises contributed to a total production value of $51.72 bn. The manufacturing industry accounted for the largest share, amounting to 84.4% of this volume. The ongoing processes of transformation and modernization within key industries underscored Uzbekistan's dedication to economic advancement.
Industry executives seized the opportunity to present several noteworthy investment projects across diverse sectors such as agriculture, mechanical engineering, electrical engineering, and construction materials production. Among the presentations, Davron Khidoyatov, Deputy Chairman of Uzavtosanoat, emphasized the pivotal role of the automotive industry in Uzbekistan's economy. With the automotive sector constituting approximately 4.5% of the country's GDP, Khidoyatov underscored its significance as a major contributor to economic growth.
Jaloliddin Gulkhanov, Director of the Department of the Ministry of Agriculture, shed light on the potential for investment in the production of baby food in Uzbekistan. Noting the absence of domestically produced baby food items and the substantial annual import value of approximately $90 mn, Gulkhanov emphasized the vast market opportunity presented by the country's sizable child population.
Ilyos Rakhimov, Deputy Chairman of the "O'zsanoatqurilishmateriallari" Association, drew attention to the importance of small industrial zones specialized in textiles. These zones, strategically established to attract investments, play a crucial role in the development of the textile industry. Rakhimov highlighted the conducive environment within these zones for promoting goods for export, further enhancing Uzbekistan's economic prospects.
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