Central Asia Attracts Nearly 57% of All Asian Investments, Uzbekistan Maintains Leadership

Tashkent, Uzbekistan (UzDaily.com) — Central Asia continues to demonstrate robust growth in investment inflows from Asian countries, accounting for nearly 57% of all capital directed to the Eurasian region.

The total volume of investments reached a record US$68 billion, with Uzbekistan serving as the main driver of this growth. Over the past 18 months, investments from Asian countries in Uzbekistan doubled—from US$11 billion to US$22.6 billion—contributing approximately 62% of the total investment increase in the region. Kazakhstan and Turkmenistan also remain significant recipients of capital, with US$19.3 billion and US$20.6 billion, respectively.

According to the Eurasian Development Bank’s (EDB) report on mutual investment monitoring, the total capital inflow from Asia to the Eurasian region in 2024–2025 exceeded US$20 billion despite the global slowdown in investments. Nearly half of this growth—around US$9 billion—came from Gulf countries.

The largest inflows were directed from the UAE (US$16.1 billion), Saudi Arabia (US$4.2 billion), Qatar (US$2.4 billion), and Oman (US$1.1 billion), with up to 96% of Gulf capital targeting Central Asian countries.

China remains the largest investor in the entire Eurasian region, contributing US$66.1 billion, or 55% of all accumulated Asian investments. Chinese companies actively participate in energy, industrial, and infrastructure projects, significantly influencing the region’s economic integration.

The EDB notes that the total accumulated mutual investments among 13 Eurasian countries—including Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Mongolia, Russia, Tajikistan, Turkmenistan, Uzbekistan, and Ukraine—as well as Asian partners such as Afghanistan, Vietnam, India, Indonesia, Iran, China, Turkey, and Gulf countries, reached US$176 billion. Since 2016, this figure has steadily grown, doubling over ten years.

One of the key sectors attracting capital has been power generation, particularly renewable energy projects. In the past 18 months, over half of new investment inflows—US$10.1 billion out of US$19.8 billion—went into the energy sector. Simultaneously, the share of the manufacturing industry has risen to 23% of mutual foreign direct investments, driving industrial cooperation across the region.

Overall, accumulated investments from Asian countries in the Eurasian region reached US$119.8 billion, marking a 20% increase compared to 2023. At the same time, countries in the region actively invest in Asia, with total investments reaching US$56.6 billion, primarily directed to Turkey, India, Vietnam, and China.

“We are observing steady growth in investment links between Gulf states and the Eurasian region. We expect this high momentum to continue in the medium term—averaging around 20% per year. This is supported by a substantial pipeline of projects ready for launch and the strengthening of political and economic ties between countries. Investments from the Gulf are ‘mature,’ bringing advanced technologies and fostering high-level competencies in relevant sectors of regional economies,” noted EDB Chief Economist Evgeny Vinokurov.

Thus, Central Asia, particularly Uzbekistan, is consolidating its role as a key investment hub in the Eurasian region, attracting capital and technology from Asian countries and laying the foundation for sustainable economic growth.