Namangan: Industrial Growth and Thousands of Jobs. A New Stage — Launch of Multi-Billion-Dollar Projects

Every region of Uzbekistan has its own unique potential for economic development. In recent years, Namangan region has rapidly emerged as a promising location for industrial production. Due to the region’s entrepreneurial spirit, favorable investment climate, and financial cooperation of commercial banks, Namangan
is gaining new economic momentum.

In the first half of this year alone, projects worth a total of USD 1.6 billion were launched in the region. By the end of the year, it is planned to attract an additional USD 4.2 billion in investments, reach USD 1 billion in export volume, and create more than 320,000 new jobs.

Bank Support - A Driver for Restoring and Expanding Production Capacities

JSCB “Uzbek Industrial and Construction Bank” (SQB) is actively contributing
to the region’s efforts to boost industrial potential, support entrepreneurship,
and ensure employment. Through preferential loans and financial-organizational assistance provided by SQB, dozens of business projects have grown into large-scale production facilities, while existing enterprises have reached the level of export-oriented companies.

Prime example is “Kadeer Parts Industry” LLC in Yangi Namangan district, which was revitalized with the bank’s support. The plant, which had been idle for many years, resumed operations and established the production of 400,000 automobile headlights and lighting components per year with the help of SQB.

In 2025, SQB’s Namangan Regional Banking Services Office implemented nine projects across various industrial sectors. A total of 176 billion soums were utilized, and 186 billion soums in foreign investments were attracted. Financing in the areas of industry, textiles, services, and manufacturing led to the creation
of 690 permanent jobs.

Social Impact: Hundreds of Young People Securing Stable Employment and Income

Eighty percent of the products manufactured by the enterprise replace imports, while the remaining 20 percent are intended for export. This results in an annual contribution of 20 billion soums to the regional budget and USD 2 million in export revenues. In the current year alone, 10,000 finished products have been exported
to Kazakhstan.

Established in 2020, the enterprise had partially suspended operations
due to a shortage of working capital. During the President’s visit to the Namangan region, the company’s management met with the Chairman of the Board of SQB
to present their challenges. As a result, the bank extended a USD 1 million loan, enabling the purchase of additional equipment and raw materials. In 2025, a further USD 500,000 in credit was allocated, allowing the company to expand its product range from seven to twelve types.

Each new job created represents a significant step toward providing the population with stable employment and sustainable income. The state’s attention, combined with the financial support of commercial banks, is further accelerating this process.

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