Uzbekistan Launches $10 Billion Processing Drive to Lift Export Value as Moody’s Upgrades Rating
Updated
Updated · Euronews · Jul 8
Uzbekistan Launches $10 Billion Processing Drive to Lift Export Value as Moody’s Upgrades Rating
3 articles · Updated · Euronews · Jul 8
Summary
$10 billion in food processing, $4.2 billion in technological metals projects and 880,000 tonnes of sheet-steel localisation now anchor Uzbekistan’s plan to keep more export value at home.
$4.5 billion in processed fruit, vegetables and food exports is the government’s target for 2026, with packaging, bottling and certification capacity expanded to meet standards in 92 export markets.
More than 100 projects under the Uzbekistan Technological Metals Complex aim to move beyond raw-material exports, while Almalyk says new copper-processing and high-tech manufacturing deals could lift profits two- to threefold.
Ba2 from Ba3 was Moody’s June upgrade for Uzbekistan, strengthening the backdrop for a strategy that officials and investors say still depends on infrastructure, private capital and predictable legal rules.
Transparency remains a key test for the mining push, with the Extractive Industries Transparency Initiative warning that faster permitting for critical minerals must not weaken contract oversight or public benefit.
As Uzbekistan opens its critical minerals to the West, how will it manage its powerful neighbors, Russia and China?
Can landlocked Uzbekistan solve its critical water and energy shortages to fuel its massive industrial dream?
Can Uzbekistan's new legal framework truly shield investors from the political risks that have plagued its past?
From Ba2 to BBB–: Uzbekistan’s Economic Transformation, $10 Billion Processing Push, and Global Integration
Overview
Uzbekistan’s recent upgrade to a Ba2 (trend) sovereign credit rating by Moody’s highlights the country’s strong commitment to economic reform and growth. This positive outlook is driven by robust economic expansion, substantial fiscal progress, and effective strategic initiatives. High volumes of capital investment and significant remittances from labor migrants have provided a solid foundation for prosperity. The stable rating reflects balanced credit risks and growing confidence in Uzbekistan’s economic trajectory, underscoring the success of ongoing reforms and the nation’s efforts to build a more resilient and diversified economy.