Overview
Uzbekistan possesses abundant natural resources, which have traditionally been exported as raw materials and brought substantial earnings to the country. The government’s present strategy is for Uzbekistan to position itself further up the value chain by developing processing capacities for producing higher value-added goods. The chemical industry plays a key role in this strategy. Uzbekistan’s national program for chemical industry development plans to invest $12.1 billion investment (including $1.7 billion in foreign direct investments and $9.2 billion in loans from financial institutions) in 31 projects between 2019 and 2030.
These investments are aimed at expanding and/or enabling the production of nitrogen, phosphorus, potash and complex mineral fertilizers; polymer products, including polyethylene terephthalate (PET), polyvinyl chloride (PVC), synthetic rubber, polystyrene, polyurethane, polyol, acrylonitrile-butadiene-styrene (ABS) plastic, polyacrylonitrile (PAN); melamine, methylamine, formaldehyde, urea-formaldehyde and melamine-formaldehyde resins, ethyl acetate, edible salt, bicarbonate sodium, chloroacetic acid, sodium nitrate, butyl acetate, trisodium phosphate, nitrocellulose, reagents, catalysts and chemical additives for the metallurgical, oil and gas and textile industries, as well as polymer fittings, biaxially-oriented polypropylene film (BOPF), plant protection chemicals and active ingredients for their production.
In 2021 the government signed an agreement with the International Finance Corporation (IFC) to support modernization of the chemical industry and to attract foreign investment. In 2023, Indorama Corporation Pte. Ltd (Singapore) reached an agreement with Uzbekistan’s State Assets Management Agency to buy 99.02% of JSC Fargonaazot, one of the country’s largest producers of nitrogen fertilizers, defoliants and cellulose acetates, for $140 million and committed to invest $100 million in the company’s modernization.
In 2023 Air Products signed an investment agreement with the Government of Uzbekistan and Uzbekneftegaz JSC to acquire, own and operate a natural gas-to-syngas processing facility in Kashkadarya region of Uzbekistan for $1 billion. Also in 2023 KPMG was selected as a lead advisor and KBR as a technical advisor for developing and implementing a privatization strategy for JSC Navoiyazot, a state-owned enterprise which produces more than 30% of the country’s chemical output. IFC will be the project’s strategic advisor. In the second quarter of 2025, construction is scheduled to be completed, and plants for producing green hydrogen and cyanide salts will be launched, supported by $170 million in foreign investment.
A 2022 presidential resolution “On approval of the target program for the strategic development of the chemical and gas chemical industry,” mandated the creation of three large chemical clusters — in the Navoiy and Fergana regions as well as in the Republic of Karakalpakstan — for the implementation of 44 investment projects worth $10.65 billion between 2022 and 2029. The funds were to be sourced as follows: $725.9 million – from the funds of the clusters, $2.49 billion – from direct investments, and $7.43 billion – from foreign loans.
Table: Chemical Market Size, Million USD
| 2022 | 2023 | 2024 | 2025 estimated | |
| Total Exports | 1,302 | 1,307 | 1,687 | 1,900 |
| Total Imports | 4,231 | 4,865 | 4,688 | 5,000 |
| Imports from the US | 2.2 | 4.7 | 5.3 | N/A |
| Trade Surplus/Deficit* | -2,929 | -3,558 | -3,001 | -3,100 |
| Exchange Rates** | 11,051 | 11,737 | 12,653 | 12,900 |
*Trade Surplus/Deficit = Total Exports – Total Imports
**Exchange Rates = Uzbek soums per $1
Units: $ millions
Source: The State Statistics committee of Uzbekistan. Data for 2025 was estimated by Post using company project implementation progress reports. Imports from the U.S. data is from the U.S. Census Bureau.
Leading Sub-sectors
- Technologies and equipment for petrochemical productio
- Technologies and equipment for fertilizer production
- Technologies and equipment for producing chemicals used in other industries
Opportunities
U.S. companies may bid on contracts to supply processing technologies and equipment to the country and provide consulting, engineering, and construction services. The government’s interest in licensing technologies for natural gas processing has increased. All public sector tenders and technical requirements, specifications, documents, and procedural explanations are available on the website of Uzkimyosanoat (state-owned chemical company comprising 14 industrial enterprises) and Uzbekneftegaz.
For specific opportunities, businesses should review tenders on company websites, https://www.tenderweek.com/, or contact potential partners by phone or e-mail. In general, opportunities exist in natural gas processing; fertilizer and chemicals production; and construction, expansion, and modernization of production facilities.
Resources
U.S. companies and individuals interested in learning more about upcoming procurements and export opportunities are encouraged to visit the following websites: