President Shavkat Mirziyoyev convened a meeting focused on advancing Uzbekistan's electrical industry, highlighting the sector's impressive growth, with electrical equipment exports surpassing $1bn annually and becoming the country's second-largest export after textiles, the presidential press secretary, Sherzod Asadov reported.
Over the past seven years, more than $1bn in investments have flowed into Uzbekistan’s electrical industry, resulting in the establishment of over 700 new enterprises and the development of 45 different types of products. Production of electrical appliances has surged by 80%, and the number of companies with revenues exceeding UZS 100bn ($7.91mn) has quadrupled.
The president emphasized the need for mastering high-tech products such as smart cards, generators, and office and telecommunications equipment to harness the $5bn potential of the regional market.
President Mirziyoyev stressed the importance of Uzbek producers improving product quality and cutting costs to remain competitive in the global market, particularly in response to growing protectionism.
Currently, low-value-added goods like copper wire make up 25% of electrical exports. Additionally, 80% of electrical cables are used in construction, with only a small portion (produced by four companies) serving the automotive industry. The government aims to increase deep copper processing to 60% by the end of this year and to 75% by 2025.
To further boost industry growth, technoparks in cities like Akhangaran, Fergana, Karshi, and Urgench will receive up to 10 hectares for producing composite materials, metals, plastics, and other components essential for electrical manufacturing. These technoparks will also strengthen cooperation with related industries.
New enterprises will benefit from "industrial mortgages" for ready-built facilities and will receive tax incentives. The strategic initiatives outlined at the meeting are set to propel Uzbekistan's electrical industry into the high-tech sector, solidifying its position in global markets.
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