TASHKENT (TCA) — Uzbekistan’s joint stock company Uzeltekhsanoat (Uzbek Electrotechnical Industry) is planning to use investments worth about US $1 billion until 2030 to increase domestic production of household appliances and home electronics by five times, the Jahon information agency reported.
According to Uzeltekhsanoat, the company is currently preparing a program for the industry’s development until 2030.
In line with the program, it is planned to direct investments worth about $1 billion to the electrotechnical sector. This will allow launching production of 22 types of new products and increase the production of goods by enterprises of the industry by 5.1 times.
Uzeltekhsanoat underlined that it will help decrease the volume of imports.
Over the past five years, the companies within the industry have started production of 25 types of household appliances which were previously imported. As a result, the share of locally produced home appliances reached 45 percent in the internal market of Uzbekistan.
According to the company, it is currently working to further improve the level of saturation of the domestic consumer market with local products. In particular, in 2016 it is planned to increase the production of air conditioners up to 37.2 percent of the total market in Uzbekistan (growth of 8.6 percent), gas and electric stoves up to 56 percent (6.7 percent growth), television sets up to 60.1 percent (6.5 percent growth), refrigerators up to 32.5 percent (4.6 percent growth), and washing machines up to 65 percent (3.1 percent growth).
