Shavkat Mirziyoyev has signed a decree aimed at developing the electrical engineering industry in Uzbekistan. The document has been published on Lex.uz.
It outlines measures announced during the meeting on January 11. By 2027, the goal is to increase the production volume of electrical appliances to 58 trillion sums and exports to $3 billion. To achieve this, it is planned to implement high-tech investment projects worth $4 billion.
Imported laboratory equipment brought in by electrical engineering manufacturers for their needs and for establishing research centers (R&D) will be exempt from customs duties until February 1, 2028.
It has been instructed to open engineering schools at polytechnic institutes in Akhangaran and Jizzakh, which will train qualified workers and mid-level managers for electrical engineering enterprises. Annually, 5 billion sums will be allocated from the budget to cover their expenses.
Additionally, there is a task to develop a digitalization program for processes in industry enterprises. Up to 50% of the costs for this purpose (not exceeding $10,000) will be covered by the Trade Promotion Fund.
It is planned for the enterprises of the association "Uzeltexsanoat" to place short-term (up to 1 year) and medium-term (up to 5 years) bonds on the local capital market. Two industry companies are also expected to issue Eurobonds.
For the industry, it has been instructed to open credit lines in foreign currency at a rate no higher than 8% per annum. The volume in "Uzpromstroybank" will amount to $150 million, while in other commercial banks it will be up to $100 million.
The head of state has instructed to allocate $50 million from the Industrial Development Fund for preferential lending to electrical engineering enterprises for project financing and working capital replenishment. Loans will be provided for one and a half years: in foreign currency at 7%, and in national currency at 18%.
Another credit line Eltechexport will be aimed at accelerating the export of equipment. Export contracts or insurance policies will be accepted as collateral. Companies will be able to receive up to $10 million annually for these purposes—at 14% in national currency and 6% in foreign currency.
It is also planned to allocate $30 million to credit institutions in 2025 for financing the leasing of electrical equipment. In this case, the banks' margin should not exceed 4%, and the down payment is set at 15%.
Legal entities will be allowed to construct "turnkey" buildings in the technoparks of Akhangaran district, Fergana, and Urgench for sale or lease to electrical engineering manufacturers. The latter will be able to take preferential loans for these purposes at 10% per annum for 7 years (with a grace period of 2 years).
Earlier, Spot reported that the president instructed the opening of 10 testing laboratories in the fields of electrical engineering, machine engineering, and construction materials.