Uzbekistan Pushes to Keep More Value Inside Its Borders

Uzbekistan has launched a multi-billion-dollar strategy to shift agricultural, metal and mineral exports up the value chain. The plan targets a $10 bn food-processing sector and a $4.2 bn technological-metals pipeline by 2030, alongside the localisation of 880,000 t of sheet steel annually. With no sea access, the government aims to earn more per shipment rather than simply increase volume.

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Agriculture Minister Ibrokhim Abdurakhmonov said the country produces “24 million tonnes” of fruit and vegetables but stresses that “those products must also reach markets and generate income.” The ministry links higher-value output to certifications such as halal, organic, ISO and GLOBALG.A.P. To fund the shift, the Asian Development Bank’s Kanokpan Lao-Araya highlighted the need for “long-term investment” in roads, railways and energy, noting that “attracting private investment also depends on political stability, a clear path to profitability, available labour and confidence in the legal framework.” Italian firm Gamma Meccanica and the Uzbekistan Technological Metals Complex (TMK) are among the private partners developing new processing capacities.

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Uzbek officials project processed food revenues of $4.5 bn this year, moving toward the 2030 goal. In steel, Bahodir Abdullayev of Uzmetkombinat explained that “standard reinforcing bars sell for about $600-650 (€530-570) per tonne, while high-alloy steel starts at around $1,200 (€1,050) and can reach $5,000-6,000 (€4,400-5,300) per tonne,” underscoring the profit incentive of localisation. At Almalyk Mining and Metallurgical Complex, chairman Abdulla Khursanov expects copper-processing agreements to “increase company profits by two to three times.”

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Mark Robinson, executive director of the Extractive Industries Transparency Initiative, warned that “what they need to do is translate that resource wealth into long-term benefits by getting a fair share of resource deals.” He cautioned that “there is a real appetite for faster permitting,” but that shortcuts could let “people who may have their own self-interest and not the interests of the country in mind” obtain contracts, stressing the need for strong institutions.

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• “Producing 24 million tonnes is only one objective,” — Ibrokhim Abdurakhmonov, Agriculture Minister

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• “If production does not generate income, there can be no true food security,” — Ibrokhim Abdurakhmonov, Agriculture Minister

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• “When we talk about infrastructure, it’s a long-term investment,” — Kanokpan Lao-Araya, ADB Country Director for Uzbekistan

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• “But attracting private investment also depends on political stability, a clear path to profitability, available labour and confidence in the legal framework.” — Kanokpan Lao-Araya, ADB Country Director for Uzbekistan

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• “Abdullayev said standard reinforcing bars sell for about $600-650 (€530-570) per tonne, while high-alloy steel starts at around $1,200 (€1,050) and can reach $5,000-6,000 (€4,400-5,300) per tonne.” — Bahodir Abdullayev, Head of Uzmetkombinat

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• “What they need to do is translate that resource wealth into long-term benefits by getting a fair share of resource deals,” — Mark Robinson, EITI Executive Director

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