Economy Type
Reforming Resources, Manufacturing & Central Asian Growth Economy
Reform-oriented resource-manufacturing Central Asian growth economy
Uzbekistan is classified as a Reforming Resource, Manufacturing & Central Asian Growth Economy country.
Uzbekistan is the most populous country in Central Asia, expanding its automotive, textile, chemical, food processing, electrical and electronic, and construction industries based on abundant resources such as gold, copper, uranium, natural gas, and cotton. Since 2017, it has been transitioning from a state-led economy to a market economy by promoting reforms in exchange rates, taxation, trade, and state-owned enterprises, as well as attracting foreign investment.
According to the World Bank, Uzbekistan's nominal GDP in 2025 was approximately $147 billion, and its GDP per capita was approximately $3,968. Real GDP grew by 7.7% in 2025, following 6.7% in 2024. The IMF forecasts a growth rate of approximately 6.5–6.8% and a consumer price inflation rate of approximately 7% in 2026.
Country Definition
Uzbekistan is an inland industrial transition country rapidly expanding its manufacturing, urban development, and service industries, based on the largest population in Central Asia and abundant mineral, energy, and agricultural resources.
Why It Matters
Uzbekistan is the largest consumer and labor market in Central Asia, with a population of over 38 million. It borders Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Afghanistan, and is the only country to share borders with all five Central Asian nations. However, it is a prime example of a double landlocked country in the world, requiring passage through at least two countries to reach the sea.
The administration of President Shavkat Mirziyoyev continues economic openness, privatization, foreign exchange liberalization, state-owned enterprise reform, and investment attraction. In 2025, the economy grew by 7.7%, driven by consumption and investment, and maintained a high growth rate in the first quarter of 2026. However, the high economic weight of the government and state-owned enterprises, as well as the predictability of energy price reform and institutional implementation, remain important challenges.
Uzbekistan aims to transform from a raw material exporter into a processing and manufacturing nation by leveraging its strategic minerals, such as gold, copper, and uranium, as well as its young workforce. It is attracting joint ventures with foreign companies in the automotive, electrical and electronics, textile, chemical, construction materials, and food processing industries.
In addition, it is seeking to grow into a production and logistics hub in Central Asia by promoting multiple transportation corridors connecting China–Central Asia–Europe and Afghanistan–Pakistan–Indian Ocean and Caspian Sea.
Korea Perspective
For South Korea, Uzbekistan is a key Central Asian market where cooperation is possible in automobiles and parts, electrical and electronic goods, minerals, energy, healthcare, smart cities, agriculture, education, and digital government .
Korea and Uzbekistan have built cooperation in the fields of automobiles, textiles, energy, infrastructure, medical services, and education based on their special strategic partnership. In 2025, bilateral trade amounted to approximately $1.8 billion, and in 2026, the two governments discussed the possibility of resuming free trade agreement negotiations following Uzbekistan's accession to the WTO, as well as expanding supply chain and industrial cooperation.
Korean companies can utilize Uzbekistan not only for the local domestic market but also as a manufacturing and service hub for expanding into Central Asia, Afghanistan, and the Caucasus region. However, they must closely manage logistics costs, regulatory changes, contracts with government agencies, and risks related to localization and payment collection.
Key Keywords
- Economic Reform
- Gold & Copper
- Uranium
- Natural Gas
- Automotive
- Textile Industry
- Agribusiness
- Infrastructure
- Central Asian Logistics
- State-Owned Enterprise Reform
Uzbekistan is a presidential republic located in the heart of Central Asia. The capital, Tashkent, is the center of administration, finance, industry, and education, while Samarkand, Bukhara, Navoi, Andijan, Fergana, and Nukus are major regional hubs.
The current president is Shavkat Mirziyoyev. Since taking office in 2016, he has pursued economic openness, improved relations with neighboring countries, and administrative reform. While a strong presidential governance system accelerates the speed of policy implementation, reliance on government agencies and state-owned enterprises, as well as consistency in law enforcement, are factors that investors should scrutinize.
With a population of approximately 39 million, it is the largest in Central Asia and has a relatively young demographic structure. The abundant labor force and urbanization provide the foundation for expanding demand for housing, transportation, education, healthcare, consumer goods, and digital services.
Uzbekistan pursues diversified diplomacy by maintaining close economic ties with Russia and China while expanding investment and technological cooperation with South Korea, Turkey, the European Union, and Gulf states. Trade and border cooperation among Central Asian countries are also being strengthened.
It is currently not a member of the WTO and is in the process of accession negotiations. While WTO membership could serve as an opportunity to enhance transparency regarding tariffs, subsidies, state-owned enterprises, and trade systems, it also has the potential to increase competitive pressure on domestic industries.
Key Features
- Central Asia's largest population market
- Strong policy implementation centered on the President
- Transition to a market economy and promotion of privatization
- Abundant gold, copper, and uranium resources
- Young workforce and rapid urbanization
- Automotive, textile, and chemical manufacturing base
- Logistics constraints of landlocked countries
- Diversified cooperation with Russia, China, Korea, and Europe
The Uzbek economy consists of mining, manufacturing, agriculture, construction, distribution, transportation, and services. Recent growth is being driven by private consumption, remittances, public and private investment, and the expansion of construction and services.
According to the IMF, real GDP grew by 7.7% in 2025, and the unemployment rate fell to 4.8%. Although robust growth in the high 6% range is projected for 2026, energy price reforms, increased credit, and high domestic demand could put pressure on prices and the external balance.
The World Bank identifies the recovery of exports and the expansion of private consumption, services, agriculture, and industry as key drivers of growth in 2025. Real private consumption increased by 9.2% and investment by 10.5%, driven by increases in wages and remittances.
In the domestic market, demand for automobiles, home appliances, food, pharmaceuticals, education, telecommunications, and housing is expanding. However, per capita income remains at a low-to-middle level, and significant regional disparities in purchasing power make price competitiveness and installment and financing conditions crucial.
The government is attracting foreign investment through industrial complexes, free economic zones, tax incentives, and public-private partnerships. At the same time, it places great importance on local production, employment, technology transfer, and the expansion of exports.
Market characteristics
- Central Asia's largest consumer market
- High economic growth in the 6~7% range
- Young population and urbanization
- Large-scale projects centered on the government and state-owned enterprises
- manufacturing localization policy
- Price-sensitive consumer market
- High infrastructure and housing demand
- Rapid expansion of e-commerce and financial services
- Regional Differences in Law and Regulation Enforcement
- The importance of local partners and government relations
E-commerce is growing with the spread of mobile internet and digital payments. Based on the Electronic Commerce Act enacted in 2022, regulations regarding platforms, seller information disclosure, and electronic transactions are being established.
MarketHub Point
While the Uzbekistan market boasts strengths in high growth potential and population size, business success depends on price competitiveness, local production, cooperation with public institutions, and long-term relationship-based sales.
Uzbekistan's key industries are mining, energy, automobiles, textiles, chemicals, agri-food, construction materials, electrical and electronics, tourism, and ICT.
3.1 Minerals and Metals
Gold is Uzbekistan's largest export and a key resource supporting foreign exchange and fiscal stability. The Navoi Mining and Smelting Enterprise and the Al-Malik Mining and Metal Complex are the centers of the gold and copper industries.
According to WTO trade data, gold accounted for approximately 37.9% of merchandise exports in 2024. Copper, natural gas, and petroleum products are also major exports.
The uranium industry is also of high strategic importance. Uranium production is set to increase to approximately 7,000 tons by 2025, and the government plans to expand production capacity by 2030 through the development of new mines.
In Korea, not only mineral development itself but also the following fields are promising.
- Mining machinery
- Ore dressing and smelting facilities
- industrial sensors
- Automation and Safety Management
- water treatment
- Power facilities
- Mineral tracking management
- High-value metal materials
3.2 Energy and Electricity
Natural gas is a key resource for power generation, heating, and the chemical industry, but seasonal supply shortages are occurring due to declining production and increasing domestic demand. Consequently, investments in power plant modernization, power grids, solar and wind power, and energy efficiency are expanding.
The government is promoting large-scale solar and wind power projects utilizing private and foreign capital, and is also proceeding with electricity rate reforms and the restructuring of state-owned energy enterprises.
The major opportunities are as follows.
- High efficiency of combined cycle power plants
- solar and wind power
- ESS
- Modernization of power transmission and distribution networks
- smart meter
- Industrial Energy Management
- Gas Pipeline & Leak Detection
- District heating efficiency
3.3 Automotive and Electrical & Electronics
The automotive industry is a representative sector of Uzbekistan's manufacturing industry. In addition to the existing passenger car assembly and parts industries, investment in electric vehicles, batteries, and electronic components is expanding.
The local automotive industry operates under government policies and is centered on state-owned and joint ventures, while high import tariffs and localization policies have protected domestic production. Recently, however, the competitive landscape is changing as foreign companies, including China's BYD, enter the electric vehicle production market.
Korean companies can explore opportunities in the following areas.
- car parts
- Electronics and sensors
- battery pack
- Charging infrastructure
- Production automation
- Quality inspection
- mold
- Aftermarket parts
3.4 Textiles and Agri-food
Cotton is the traditional industrial base of Uzbekistan. Recent policies focus on expanding the production of spinning, textiles, clothing, and finished goods rather than raw cotton exports.
Fruits, vegetables, grains, cotton, and livestock are important in agriculture. Increased external food demand and policies to improve agricultural productivity are raising the demand for technologies related to preservation, processing, packaging, cold chain logistics, and export inspection.
However, water scarcity, aging irrigation facilities, soil salinization, and climate change are major risks to agriculture. Consequently, the importance of smart irrigation, water resource management, seed and breeding, and agricultural data technologies is growing.
3.5 Construction, Cities, and ICT
Rapid population growth and urbanization are expanding the demand for housing, roads, railways, water and sewage systems, hospitals, schools, and industrial parks. In major cities, including Tashkent, the development of residential, commercial, and transportation infrastructure is continuing.
In the ICT sector, e-government, fintech, data centers, cloud computing, cybersecurity, and business process outsourcing are being fostered. A young workforce and relatively low labor costs can serve as a foundation for software and service exports.
Key industries
- Gold, copper, and uranium
- natural gas and electricity
- Automobiles and parts
- Textiles and clothing
- Chemicals and fertilizers
- Agriculture and food processing
- Construction and building materials
- Electrical and electronic
- ICT and Fintech
- Tourism and Cultural Heritage
Major resources and production base
- Gold, copper, and uranium reserves
- natural gas
- Cotton and agricultural production
- young workforce
- Central Asia's largest domestic market
- Automotive and textile industry base
- Industrial complexes and free economic zones
- Central Asia Transport Corridor
- Solar and Wind Power Potential
- Silk Road cultural tourism resources
MarketHub Point
The key to Uzbekistan's industrial transformation is to increase added value through local processing and manufacturing in sectors such as smelting, parts, textiles, food, and electrical and electronic products, shifting from a structure of simply exporting raw materials like gold, gas, and cotton.
Uzbekistan exports gold, copper, natural gas, textiles, fruits and vegetables, and chemical products, and imports machinery, vehicles, electrical and electronic equipment, industrial facilities, pharmaceuticals, and petroleum products.
According to WTO data, merchandise exports in 2024 amounted to approximately $19.7 billion, while merchandise imports were approximately $35.3 billion. The structure in which imports exceed exports is due to high demand for industrial equipment, machinery, vehicles, and investment goods.
Among major export markets, Russia accounted for 15.1%, Kazakhstan 6.4%, China 6.0%, Turkey 5.0%, and Afghanistan 4.7%. Since trading partners for gold are often not clearly classified, the proportion of "other countries" appears significant.
China and Russia occupy key positions in the supply of machinery, vehicles, electronics, energy, and consumer goods. Kazakhstan is an important partner in northern railway and road logistics, Turkmenistan in textiles, construction, and distribution, and Korea in the fields of automobiles, parts, machinery, medical, and electronics.
Because Uzbekistan is a double landlocked country, transportation times and costs are high. The major logistics routes are as follows.
- Kazakhstan–Russia–Europe
- Kazakhstan–Caspian Sea–Caucasus–Europe
- Turkmenistan–Iran–Persian Gulf
- Afghanistan–Pakistan–Indian Ocean
- China–Kyrgyzstan–Uzbekistan
- Central Corridor of the Trans-Caspian Sea
Geopolitical tensions and the sanctions environment against Russia increase the burden on transportation, financial settlements, re-export controls, and supply chain due diligence. Companies must closely verify end users, origins, transshipment, and sanctions status.
Major trading partners and regions
- china
- russia
- Kazakhstan
- Turkey
- European Union
- Afghanistan
- Kyrgyzstan
- Tajikistan
- korea
- Middle East and South Asia
Supply chain characteristics
- Gold-centered export concentration
- Dependence on imports of machinery, vehicles, and equipment
- High trade ties with Russia and China
- Expansion of intra-regional trade in Central Asia
- High logistics costs of landlocked countries
- Rail-based long-distance transportation
- Multiple traffic corridor development
- Improvements to customs clearance and certification procedures in progress
- Increased demand for local production and parts procurement
- Risk of sanctions and re-export controls
MarketHub Point
The key challenge for Uzbekistan's supply chain is to reduce reliance on a single northern logistics route and secure multiple transport networks connecting the Caspian Sea, China, Iran, and South Asia.
Uzbekistan is a promising market with the largest population in Central Asia, a high economic growth rate, abundant mineral resources, and government-led industrialization policies. However, as business opportunities are closely linked to government policies, state-owned enterprises, and large-scale projects, cooperation with local partners and government agencies, as well as financing and contract risk management , are crucial.
The IMF forecasts that Uzbekistan's economy grew by 7.7% in 2025, driven by consumption and investment, and that this high growth rate of approximately 6.5–6.8% will continue in 2026. However, major downside risks include overheating due to rapid credit growth and expansion of domestic demand, as well as the deterioration of the global economy and delays in reforms.
5.1 Mineral and Metal Industry
Uzbekistan is a strategic mineral nation possessing gold, copper, and uranium. The government seeks to move beyond the simple export of raw ores and metals to expand value added through smelting, materials, electrical and electronic components, and industrial products.
The major opportunities for Korean companies are as follows.
- Mining and Excavation Equipment
- Ore dressing and smelting facilities
- Mining automation
- Industrial sensors and drones
- Worker safety control
- Wastewater and mine water treatment
- Copper processing and wire materials
- Rare metal analysis and recycling
In the Uzbekistani mining market, relationships with government agencies and state-owned mining enterprises, business rights and tax conditions, equipment maintenance, parts supply, and long-term contract structures must be reviewed together. The U.S. International Trade Administration also classifies mining and quarrying as promising sectors for major investment and export.
5.2 Automotive, Parts, and Electrical & Electronics
The automotive industry is Uzbekistan's representative manufacturing sector, and its scope is expanding from passenger car assembly to parts, electronics, and electric vehicles.
Korean companies can leverage their competitiveness in the following areas.
- car parts
- Electric vehicle electronics
- Battery Pack · BMS
- charger
- Molds and Presses
- Production automation
- Inspection and Quality Control
- Aftermarket parts
Local governments prioritize import substitution, local production, and employment. An approach combining assembly, technology transfer, localization of parts, and service centers is more advantageous than simply exporting finished products.
The expansion of Chinese electric vehicle companies is growing the market while simultaneously intensifying price competition. Korean companies need to differentiate themselves by focusing on quality, reliability, service, and production technology.
5.3 Energy and Power Grid
Electricity demand is increasing due to rapid industrialization and urbanization, but power generation and transmission/distribution facilities are aging. As a result, there is a growing demand for the efficiency of gas power generation, solar and wind power, power grid modernization, ESS, and smart meters.
The World Bank assesses that Uzbekistan is pursuing reforms to adjust electricity and gas rates to cost recovery levels and expand private participation in the energy market. While rate reform is necessary to attract investment, it is being implemented in parallel with social protection policies as it can increase the cost burden on households and businesses.
Uzbekistan plans to significantly expand its solar and wind power facilities by 2030. According to World Bank data, targets of approximately 7.1 GW of solar power and 11.3 GW of wind power have been set.
The promising sectors for Korean companies are as follows.
- Solar and wind power equipment
- Large-capacity ESS
- Power transmission and distribution facilities
- Smart Grid
- Power grid diagnosis
- High-efficiency gas turbine
- Transformer/Circuit Breaker
- Industrial Energy Management
- Gas Leakage and Methane Reduction
- Power plant maintenance
Renewable energy projects must carefully review government guarantees, power purchase agreements, exchange rates, transmission grid connection, and the participation of international financial institutions.
5.4 Agriculture, Food Processing, and Water Resources
Agriculture accounts for a large share of Uzbekistan's economy and employment. According to World Bank data, agriculture accounts for approximately 24.3% of GDP and 23.9% of employment, and is a key element of food security and the regional economy.
Traditional cotton-centered agriculture is diversifying into fruit, vegetable, livestock, food processing, and export agriculture. However, aging irrigation facilities, water loss, soil salinization, and climate change are limiting productivity improvements.
The following fields are promising for Korean companies.
- Smart irrigation
- Pumps and valves
- Agricultural sensors
- Greenhouses and Smart Farms
- Seeds and breeding
- agricultural machinery
- Storage and Selection
- food processing
- Frozen food and cold chain
- Packaging and inspection equipment
For market entry, cooperation with local governments, agricultural clusters, and food companies is important, and maintenance and training must be included after the equipment sale.
5.5 Healthcare, Education, and Urban Infrastructure
High population growth and urbanization expand the demand for hospitals, schools, housing, water and sewage systems, and transportation infrastructure.
The World Bank projected that the student population would exceed 7.6 million by 2026, requiring approximately 300 new schools annually. Additionally, a total of $340 million will be invested in Phase 2 of the rural infrastructure development project to improve roads, water, electricity, and public facilities.
The potential areas for cooperation with Korea are as follows.
- Hospital construction and operation
- Medical devices
- Diagnostic and testing equipment
- Hospital Information System
- Pharmaceutical production
- vocational education
- Smart School
- Smart City
- Water supply and sewage system
- Urban transportation
Since Korea has accumulated experience in medical, educational, and administrative cooperation in Uzbekistan, it can combine not only technology exports but also operational models and workforce training.
5.6 ICT·Digital Government
Uzbekistan is fostering e-government, fintech, data centers, software, and IT outsourcing as future service industries.
A young population, relatively low labor costs, and the government's digitalization policies are the foundation for the growth of the IT service industry. The Population, Housing, and Agriculture Census, completed in 2026, was the first comprehensive census conducted since 1989 and can serve as the basis for future data-driven policies and administrative services.
The following fields are promising for Korean companies.
- e-government
- cloud
- data center
- digital identity
- electronic payment
- Fintech
- cybersecurity
- Smart City Platform
- public data
- AI administration
Personal information, data localization, government procurement, and security requirements must be verified in advance.
5.7 Market Entry Methods
In Uzbekistan, it is difficult to conduct business based solely on price and product competitiveness. It is necessary to combine government policies, finance, localization, and relationship-based sales.
Recommended entry structure
Policy and market verification
Check government industrial policy, tariffs, certifications, foreign exchange, and procurement conditions.
↓
Securing local partners
Select a partner suitable for the business objectives from among state-owned enterprises, private companies, distributors, and local governments.
↓
Demonstration and assembly production
Following the initial export, we will pursue technology demonstration, assembly, service centers, and phased localization.
↓
Central Asian expansion
Expand into neighboring Central Asian markets by leveraging Uzbekistan's domestic market and production base.
Major Risks
- Dependence on government and state-owned enterprises
- Administrative procedures and changes to regulations
- Foreign exchange and exchange rate fluctuations
- Risk of payment collection
- High inland logistics costs
- Electricity and gas supply instability
- Complexity of Customs and Certification
- Price competition
- Localization requirements
- Sanctions and re-export controls
The U.S. International Trade Administration assesses that, despite market reforms, law enforcement, customs clearance, government procurement, intellectual property rights, foreign exchange, and the influence of state-owned enterprises remain major challenges to market entry.
MarketHub Point
In Uzbekistan, securing sustainable business opportunities requires establishing a local production, technology transfer, and service system linked to government policies, rather than focusing on short-term exports.
Based on high population growth, urbanization, investment, and reforms, Uzbekistan is highly likely to remain one of the fastest-growing major economies in Central Asia.
The IMF projects a growth rate of 6.5% in 2026 and forecasts an inflation rate of approximately 7.0%. The IMF’s 2026 Consultation Report presents a growth rate of approximately 6.8% under the base scenario, with robust investment and reforms assessed as supporting growth.
The World Bank projects a growth rate of approximately 6.4% in 2026 and believes that expanding the private sector, improving infrastructure, and promoting competition are necessary for long-term growth.
Future growth engines
Manufacturing localization
Domestic production of automobiles, electrical and electronic goods, textiles, chemicals, food, and building materials is expected to expand.
Strategic mineral processing
It is highly likely that the value chain will expand beyond the mining of gold, copper, and uranium to include smelting, materials, and parts industries.
Energy transition
Gas power generation efficiency, solar and wind power, power grids, and ESS are expected to grow simultaneously.
Urbanization and infrastructure
It is highly likely that demand for housing, transportation, schools, hospitals, water and sewage systems, and industrial complexes will continue for a long period.
digital services
E-government, fintech, IT outsourcing, data centers, and AI services can develop into new export industries.
Traffic corridor
The China-Kyrgyzstan-Uzbekistan railway and the Central Caspian Corridor and South Asia connection projects will have a significant impact on reducing logistics costs and diversifying export markets.
WTO accession prospects
Uzbekistan is conducting negotiations with the goal of completing its accession to the WTO by 2026. At the WTO Accession Working Group meeting scheduled for March 2026, the government stated that it would maintain strong momentum in the negotiations. However, as of July 2026, it cannot be concluded that the accession process has been finally completed, and the remaining negotiations and the refinement of domestic laws must continue to be monitored.
Once WTO accession is complete, transparency regarding tariffs, subsidies, and trade regulations will increase, and market access for foreign companies may improve. On the other hand, competitive pressure will increase for protected domestic companies.
Major Structural Challenges
- reform of state-owned enterprises
- Transparency of privatization
- Improvement of judicial and contract systems
- Financial market advancement
- Realization of energy prices
- Productivity improvement
- Training of technical personnel
- Water scarcity and climate change
- Diversification of logistics corridors
- income gap between regions
The IMF points out that the streamlining of the judicial system, a skilled workforce, digital technology, and energy reform are necessary to increase productivity and private investment.
Market Position
Central Asian Industrial Growth Hub + Strategic Resource Processing Platform
A hub for industrial growth and regional market entry combining Central Asia's largest population, strategic minerals, and the expansion of manufacturing and infrastructure
Key Opportunities
- Strategic Minerals and Smelting
- Automobiles and parts
- Electric vehicles and batteries
- solar and wind power
- Power Grid · ESS
- Smart farming
- food processing
- Medical and educational
- Smart City
- ICT and e-government
Recommended Strategy
Government-Aligned Entry
Select fields that align with national industrial policy and investment plans.
↓
Local Production & Service
It combines local assembly, technology transfer, maintenance, and workforce training.
↓
Central Asian Expansion
Expand into neighboring countries by leveraging Uzbekistan's domestic market and production base.
Korea Opportunity Index
Opportunity Level: High
Uzbekistan offers significant strategic opportunities for Korean companies based on its high growth rate, young population, mineral and energy resources, and relatively high trust in Korea.
South Korea can leverage its competitiveness in the following fields.
- Automobiles and parts
- Mining and smelting equipment
- Power Equipment · ESS
- Smart farms and irrigation
- food processing
- Hospitals and medical devices
- Smart City
- e-government
- Education and vocational training
- Railways and Logistics
However, cooperation with the central government and state-owned enterprises, localization, financing, logistics, and contract risks must be managed together.
Risk Screening
Dependence on government and state-owned enterprises
↓
Exchange rates, foreign exchange, and payment collection
↓
Logistics and Energy Pharmaceuticals
↓
Localization and institutional changes
↓
Verification of long-term market expansion potential
Final Assessment
Uzbekistan is a key Central Asian country transitioning from a raw materials economy to a manufacturing and service economy, driven by abundant resources, a large population, and high growth rates, and offers Korean companies significant opportunities across industry, infrastructure, healthcare, and digital sectors.
Scope of investigation
This document was prepared by cross-referencing the latest official data, focusing on Uzbekistan's macroeconomy, market reforms, minerals and energy, manufacturing, agriculture, infrastructure, digital economy, WTO accession, and potential for cooperation with Korea.
international organizations
- International Monetary Fund
- World Bank
- World Trade Organization
- Asian Development Bank
- European Bank for Reconstruction and Development
- International Finance Corporation
- United Nations Economic Commission for Europe
- Food and Agriculture Organization
Uzbekistan government and related organizations
- President of the Republic of Uzbekistan
- Ministry of Economy and Finance
- Ministry of Investment, Industry and Trade
- Ministry of Energy
- Ministry of Agriculture
- Ministry of Digital Technologies
- Statistics Agency
- Navoi Mining and Metallurgical Company
- Almalyk Mining and Metallurgical Complex
- UzAuto Motors
- Uzbekneftegaz
Republic of Korea institutions
- Ministry of Trade, Industry and Energy
- Ministry of Foreign Affairs
- KOTRA
- Korea International Trade Association
- Korea Export-Import Bank
- Korea Trade Insurance Corporation
- Korea Mine Reclamation Corporation
- Korea Energy Agency
- Korea Rural Community Corporation
- Korea International Cooperation Agency
Key Review Materials
- IMF, Uzbekistan: 2026 Article IV Consultation
- IMF, Uzbekistan Country Data
- World Bank, Uzbekistan Country Economic Memorandum 2025
- World Bank, Uzbekistan Macro Poverty Outlook 2026
- World Bank, data related to energy, rural infrastructure, and education
- WTO, Accession Status: Uzbekistan
- WTO, Uzbekistan Accession Working Party data
- US International Trade Administration, Uzbekistan Country Commercial Guide
- US International Trade Administration, Mining, Agriculture, and Energy Data
- Uzbekistan Government Industry, Investment, and Energy Policy Data
Writing Verification
This document was prepared according to the following criteria.
- Utilizing the latest macroeconomic data from the IMF and World Bank
- Distinction between 2025 performance and 2026 outlook
- Parallel analysis of mineral, manufacturing, agriculture, and service industries
- Reflecting energy rates and electricity market reforms
- Review of the potential for processing and materialization of strategic minerals
- Reflecting Central Asian logistics corridors and dual-landlocked risks
- Distinction between WTO accession goals and actual accession status
- Includes government, state-owned enterprise, contract, and exchange rate risks
- Linking Korea's Manufacturing, Infrastructure, Healthcare, and Digital Competitiveness
- Adhere to the order of Table of Contents 0–8 of the WCI-001 Golden Template.
- Apply MarketHub World Country Intelligence standard format
Uzbekistan is expanding its manufacturing and service industries while maintaining a high growth rate based on Central Asia's largest population and resources such as gold, copper, uranium, and natural gas.
While a state-owned enterprise and government-centered economic structure, high logistics costs, and uncertainty regarding energy supply and regulatory enforcement are major risks, economic reforms, the push for WTO accession, and policies on foreign investment and industrial localization are expanding long-term market opportunities.
South Korea can cooperate in the fields of automobiles and parts, mineral processing, power grids and renewable energy, agriculture and food, healthcare, education, smart cities, and e-government. Rather than short-term exports, we must combine local production, technology transfer, services, and expansion strategies for Central Asia.
Final evaluation
Uzbekistan is a top-tier growth partner capable of simultaneously promoting industrial transformation in Central Asia and expanding regional markets by leveraging Korea's manufacturing, infrastructure, and digital capabilities.