Investment Program for 2021-2023

Q1. A) In the frame of the Uzbek Government investment program on economy modernization and on industrialization, what are the objectives/perspectives of development of Uzbek manufacturing industries (mechanical sector, user of metalworking machine tools)?

As part of the Uzbekistan Investment Program for 2021-2023 for the modernization and industrialization of the economy, 10 projects worth a total of $331.2 million are being implemented in the country for the production of metal processing, metal structures and equipment.

Also, by the end of 2021, the amount of foreign investment was $11.1 billion. (113% fulfilled in the annual forecast), moreover, investments in core capital reached to $9.8 billion (increased 110% compared to 2020).
Foreign direct investment and loans amount to $9 billion (117% increase in forecast), including $8.2 billion main capital with 124% growth compared to 2020. Acquired funds from international financial institutions and foreign government financial institutions is $2.1 billion or 100% of the annual forecast.
In 2021, foreign direct investments and loans amounted to $3.8 billion was acquired by the network enterprises, which is 103% of estimated amount. Regional projects attracted $5.2 billion worth of foreign direct investments and loans (130% compared to the forecast). The main flow of investment was into the energy sector, metallurgy, chemical industry, electrical products production, IT, construction, pharmaceuticals, medium-sized industries, agriculture, and other fields.
Today, more than 50 countries are investing in the Uzbek economy, particularly China ($2.2 billion), Russia ($2.1 billion), Germany ($800.7 million), Turkey ($1.18 billion) and South Korea ($137.4 million).
Additionally, as part of the investment program for 2021-2023, “Oʻzmetkombinat” and “Oʻzeltexsanoat” are planning to attract $403.7 million worth of foreign direct investments and loans and to localize the production of metal-processing equipment at the expense of these funds.