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

I. Investments

In 2023, $22.4 billion in foreign investments were attracted, including $19.5 billion in direct foreign investments and loans (193%).

As a result of launching 306 projects with a total value of $9.4 billion within the state investment program, more than 56,000 new jobs were created.

II. Export

1. By the end of 2023, the country’s exports amounted to $16.6 billion, with growth mainly noted in the electrical engineering ($1 billion, 26% growth), automotive ($682 million, 23%), oil and gas ($509 million, 10%), pharmaceutical ($130 million, 95%), transportation ($1.5 billion, 5%), tourism ($2.1 billion, 33%) sectors, and in the field of information technology ($441 million, 44%).

Among the regions that showed export growth, Tashkent city ($1.9 billion, 9% growth) and Khorezm region ($340 million, 44%), Fergana ($772 million, 13%), Surkhandarya ($234 million, 6%), and Syrdarya regions ($331 million, 3%) can be noted.

A total of 3,144 new enterprises were involved in export activities, exporting products worth an additional $1 billion.

For the first time, 71 types of new products were exported for a total of $109 million, including women's raincoats ($526 thousand), coats ($411 thousand), tobacco for electronic cigarettes ($380 thousand), mats ($363 thousand), and towels ($142 thousand).

New markets in 15 foreign countries were developed, including Denmark, Iceland, Madagascar, Venezuela, Uruguay, Zambia, Ghana, Kenya, and Côte d'Ivoire. Products worth $26 million were exported to these countries.

III. Localization and Industrial Cooperation Sectors

In 2023, a number of systemic measures were taken to comprehensively support the reduction of product imports into the country and the expansion of localization.

In particular, in accordance with the localization program in 2023, within the framework of 2003 projects, import-substituting products worth 82.8 trillion soums were produced (1.7 times more than in 2022).

Within the framework of 682 localization projects, sectoral enterprises manufactured products worth 41.6 trillion soums. Regional enterprises produced products worth 41.2 trillion soums within the framework of 1321 projects. As a result, the efficiency of import substitution amounted to $6.7 billion.

IV. Development of Industrial Zones

In 2023, more than 27,000 new jobs were created through the launch of 963 investment projects worth 9.6 trillion soums in 766 industrial zones.

Within the framework of 4,745 commissioned facilities, products worth 53.3 trillion soums were produced, and exports amounted to $972 million.

V. International Cooperation

By the end of 2023, $2.8 billion in loan funds were utilized within the framework of projects implemented with the participation of international financial institutions and foreign governmental financial organizations.

In 2023, more than 50 international events were organized, including the economic part of high-level visits, meetings of intergovernmental commissions, and business forums.

In particular, during high-level visits in 2023, about 1,000 agreements with a total value of $140 billion were reached.