Ministry of Investment, Industry and Trade of the Republic of Uzbekistan

Uzbekistan's chemical industry has long had significant potential and is now entering a new phase of development. The country is ready to attract global chemical sectors and innovative technologies, continuing its efforts to diversify the economy and modernize industry.

Today, during the Tashkent International Investment Forum, organized under the coordination of the Ministry of Investment, Industry, and Trade of the Republic of Uzbekistan, a panel session was held dedicated to the growth prospects of the chemical industry and new directions for its development. Promising projects for Uzbekistan's chemical sector were presented, along with strategies for integration with global markets.

Giorgio Veronesi, Advisor to the Chairman of the Board of "Uzkimyosoanoat," noted that there are many projects currently underway in Uzbekistan at various stages of development. The advisor classified them into three main categories: strategic projects, projects in the fields of decarbonization and circular economy, and initiatives for modernizing outdated facilities.

“The main challenge remains the financing of large projects. Therefore, Uzkhimsoanoat is looking for technological partners who can also act as investment partners — these are the ones who can play an active role in the implementation of projects,” added Giorgio Veronesi.

The President of Balcom Co. Ltd., Yamasaka Tetsuro, emphasized that the chemical industry should also pay significant attention to the production of specialized chemicals and materials.

“In this context, Japanese companies can make an important contribution in the following areas: technology transfer and joint development of high-tech products with high added value, promoting the implementation of sustainable production processes based on ESG principles, and strengthening the competitiveness of the industry through the development of human capital,” Tesuro added.

During the session, participants presented information about the necessary investment opportunities, new technologies, and favorable conditions created by the government to support the development of the chemical industry. Important joint projects and collaboration opportunities in the chemical sector were discussed.

According to Abid Malik, President of ACWA Power Central Asia, by 2030, the total capacity of ACWA Power projects in the renewable energy sector in Uzbekistan will reach 10,000 MW. Currently, a 1,000 MW wind farm in the Bukhara region, launched two months ago, is already operational.

Vaclav Harant, Vice President of Air Products for Central Europe and Central Asia, noted that his company is not only involved in clusters (Ferghana Oil Refinery, Navoi Azot, GTL plant) but is also connecting them.

“We are building infrastructure, delivering technical gases from plants to end users, whether it be the food industry, glass manufacturing, metallurgy, or chemicals,” Harant added.

Jamshid Shakirov, founder of Uzbekistan Hydrogen Peroxide, shared that there is a great shortage of chemical products such as chlorine, caustic soda, cyanides, which are mainly the main raw materials for the production of household chemicals in Uzbekistan.

The session also outlined specific directions and strategies for the further development of the country's chemical industry.