Central Asia Strengthens Position as Unified Investment Space

Tashkent, Uzbekistan (UzDaily.com) — The Analytical Center of the Astana International Financial Centre (AIFC Insights) together with the Institute for Advanced International Studies of Uzbekistan (IAIS) has presented a study on the investment potential of Central Asia and the prospects for the region to develop as a unified investment space.

The study outlines priority areas of economic development, investment projects, and sustainability initiatives across Central Asian countries. It places particular emphasis on the transition from national investment strategies toward a more coordinated regional approach aimed at increasing the region’s attractiveness for international capital.

According to data from the World Investment Report 2025 by the United Nations Conference on Trade and Development (UNCTAD), cumulative foreign direct investment in Central Asian countries reached US$220.5 billion as of 2024. Of this total, Kazakhstan accounts for US$151.3 billion, Turkmenistan for US$44.6 billion, Uzbekistan for US$16.7 billion, while Kyrgyzstan and Tajikistan together account for US$7.9 billion.

With a population of more than 80 million and a combined gross domestic product exceeding US$500 billion, Central Asia continues to strengthen its institutional framework, expand international economic ties, and adopt digital and environmentally sustainable technologies.

The International Financial Centre “Astana” has contributed to attracting more than US$21 billion in investments since its establishment, providing infrastructure for cross-border capital flows and international business development.

AIFC Governor Renat Bekturov said that a regional approach to investment and industrial development is becoming one of the most promising directions of economic cooperation.

He noted that Central Asian countries possess complementary competitive advantages, and the alignment of national and regional strategies allows the region to be viewed as a single economic zone with strong investment potential.

One practical example of this cooperation is the planned International Industrial Cooperation Centre “Central Asia” on the Kazakhstan–Uzbekistan border. The centre is expected to bring together joint ventures, logistics hubs, and trade platforms with unified procedures and standards, potentially serving as a model for similar projects in other border areas of the region.

The study also highlights key areas for regional cooperation, including water diplomacy, climate adaptation of infrastructure, green energy development, sustainable agriculture, digital transformation, and workforce development.

At the same time, the report identifies the lack of a unified investment positioning for Central Asia as a major challenge. Despite progress in individual countries, international investors continue to view the region as a set of separate jurisdictions rather than a single economic space, limiting its overall investment appeal.

Director of the Institute for Advanced International Studies and First Vice-Rector for Academic Affairs at the University of World Economy and Diplomacy, Akram Umarov, said that investors increasingly evaluate opportunities through the lens of large macro-regions.

He added that Central Asia has strong prerequisites for becoming a unified investment space, and that joint promotion of cross-border projects would expand access to large-scale investments and strengthen the region’s position globally.

The authors of the study conclude that in an increasingly competitive global environment, regions that offer not only individual projects but also a large integrated market, predictable business conditions, and effective institutional mechanisms are more successful in attracting capital.

In this context, Central Asia has significant potential to build its own investment brand and further strengthen its role on the international economic stage.