Chinese Investment in Uzbekistan Increased 40-Fold in Nine Years

Chinese investment in Uzbekistan soared from $284 mln in 2016 to $10.7 bn in the first half of 2025, according to a report by the Eurasian Development Bank (EDB).

The bank noted that since 2022, Uzbekistan has become the second-largest recipient of Chinese investment in Central Asia, behind Kazakhstan, which received $11.4 bn. Of the $10.7 bn invested in Uzbekistan, $5.5 bn went to the energy sector and $3.3 bn to manufacturing.

In 2024 and the first half of 2025, China strengthened its investment presence in Uzbekistan through projects in petrochemicals, energy and gas infrastructure. The largest project is a $3.3 bn olefin production complex in Bukhara, developed by Sinopec and Saneg, with operations expected to begin next year.

In green energy, Chinese investors are involved in several initiatives. Sany Renewable Energy is building a $1.2 bn wind farm in Karakalpakstan. Meanwhile, China Southern Power Grid acquired 35% stakes in each of two major ACWA Power wind projects, Bash Wind and Dzhankeldy in Bukhara region, investing around $230–240 mln in the initial stage.

In the gas sector, Daxon Holdings stands out. In February 2024, the company purchased 60% of the Gazli Gas Storage project in Tashkent region, with plans to invest $50–55 mln by the end of 2025.

Kursiv also reports that Uzbekistan’s foreign trade turnover reached $72.8 bn in the first 11 months of 2025.