Uzbekistan plans to set up an emergency headquarters under the Prime Minister’s leadership to oversee the utilization of funds received from international financial institutions. This year, investment projects worth $5.2 billion are scheduled for implementation, according to President Shavkat Mirziyoyev’s remarks during an economic meeting, as reported by his press service.
Agreements have been reached with the European Bank for Reconstruction and Development (EBRD) on projects totaling $1.1 billion and with the Islamic Development Bank (IsDB) for $1 billion. In this context, the president instructed officials to expand partnerships with these organizations and provide entrepreneurs with the necessary support to attract additional funding for their businesses.
Mirziyoyev highlighted exports as a key indicator of investment efficiency. The country currently offers benefits to residents of Free Economic Zones (FEZs), enabling enterprises to reduce production costs and remain competitive in foreign markets.
However, challenges persist. Last year, 22 FEZs housed 589 companies that produced goods worth 42 trillion UZS ($3.2 billion). Despite this, only 18% of these products were exported, and 372 companies conducted no export operations at all.
In response to this data, Uzbekistan plans to establish export-oriented FEZs, focusing on producing high-value-added goods for international markets. One of the first such zones will be a textile cluster in Namangan Region, spanning 30 hectares.
In 2024, 12 technoparks were handed over to foreign companies. These technoparks now host 27 projects worth $2.5 billion, a practice that will continue.
The president set a goal for economic officials to increase exports to over $30 billion, compared to $27 billion last year. Priority will be given to sectors such as textiles and electrical engineering, where Uzbekistan has a strong resource base and the potential to increase exports two- to threefold.
To support exporters, a factoring organization with a $100 million fund will be created. Additionally, $2 million will be allocated from the budget to promote Uzbek goods on international marketplaces. Relevant ministries and agencies have been tasked with analyzing foreign markets and developing a three-year export strategy.
