Large state-owned enterprises of Uzbekistan will place Eurobonds in 2025. This became known today at the government meeting on investments chaired by President Shavkat Mirziyoyev.

Major Uzbek enterprises have already commenced to independently enter foreign markets and attract direct financing. 

A Business Support Center has been created under the Chamber of Commerce and Industry to enter foreign financial markets. 

Reportedly, it is important to prepare at least 200 business entities to attract $2 billion from the international financial markets before the year-end. 

In addition, the president indicated that this year the Almalyk Mining and Metallurgical Plant should place $1 billion worth of Eurobonds, the Navoi Mining and Metallurgical Plant - another $500 million (after $1 billion in 2024), and Navoiyuran and Uzmetkombinat - $300 million each. 

Shavkat Mirziyoyev stressed the importance of obtaining an international credit rating for Uzbekistan Airways, Uzbekistan Airports and the Committee for Roads. They must attract a total of $700 million from foreign capital markets, he added. 

He instructed for 2025 to concretize plans to attract $2 billion worth of grants to each ministry, industry and province. 

Last year, the Navoi Mining and Metallurgical Plant placed Eurobonds on the international market for the first time and attracted $1 billion at a rate of 6.7% and 6.95%. 

The Almalyk Mining and Metallurgical Plant is planning to commission a third copper ore beneficiation plant (copper beneficiation plant, CBP-3), and the Uzbek Metallurgical Plant is planning to commission a new casting and rolling complex (initially planned to be launched in 2020, but then postponed to the end of 2024, then to 2026). 

In May, the government of Uzbekistan issued another $1.5 billion worth of Eurobonds to cover the growing budget deficit and finance the Sustainable Development Goals.