Decline in Foreign Investment in New Projects in Uzbekistan

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Uzbekistan ranks second in Central Asia for foreign direct investment (FDI) in greenfield enterprises, according to a report by the UN’s Economic and Social Commission for Asia and the Pacific (ESCAP), as noted by Kursiv Uzbekistan.

This year, the country attracted $4 bn in FDI for new projects, a decrease of 49% compared to the previous year.

Kazakhstan leads the region with an 88% increase in FDI, reaching $15.7 bn. This amount represents 63% of such investments in North and Central Asia.

Kazakhstan’s growth is largely attributed to the investment activity of Qatari company UCC Holding, which plans to invest $11 bn in the construction of two gas processing plants, a new compressor station and two additional gas pipelines throughout the country.

Kyrgyzstan also saw significant growth, more than quadrupling its previous year’s total to $2.1 bn.

In contrast, Turkmenistan raised $339 mln, while Tajikistan attracted $281 mln.

Kursiv Uzbekistan also reports that the volume of FDI in Uzbekistan’s economy from January to September 2024 reached $1.9 bn, reflecting a 7% increase.