New tax incentives may be introduced for certain companies in the electrical engineering sector.

On January 11, President Shavkat Mirziyoyev reviewed the results and future prospects of the electrical engineering sector.

According to the official release , the sector accounts for 3.5% of the industry and 10% of goods exports. Last year, products worth 31 trillion soums were produced, with exports totaling 1.3 billion dollars.

The Chairman of the Association "Uzelttehsanoat" reported that this year, the implementation of 290 new projects worth 4 billion dollars is planned, along with the attraction of 600 million dollars in investments and an increase in copper processing to 75%.

Entrepreneurs are expected to be permitted to construct ready-made buildings in technoparks for subsequent sale to companies in the electrical engineering and related sectors. It has also been proposed to exempt entrepreneurs who establish high-tech production from profit tax and property tax for a period of three years.

A guaranteed market worth 15 trillion soums will be created for the sale of products through ministries and industrial sectors. Additionally, a procedure is being developed for purchasing equipment for renewable energy from local manufacturers for social facilities.

Responsible officials note that the sector has the potential to increase exports to 3 billion dollars per year and production to 50 trillion soums.