Uzbek Outward Foreign Direct Investment Surges 33-Fold

Tashkent, Uzbekistan (UzDaily.uz) — The volume of foreign direct investment by residents of Uzbekistan into foreign assets reached US$153.1 million by the end of the first quarter of 2026, which is 33 times higher than the figure for the same period last year, according to data from the Central Bank of the Republic of Uzbekistan.

For comparison, the volume of outward foreign direct investment stood at US$4.7 million in the first quarter of 2025 and US$3.5 million for the same period in 2024.

Concurrently, the volume of foreign direct investment entering the economy of Uzbekistan from non-residents amounted to US$702 million. This is lower than the figure for the first quarter of 2025, when US$761.7 million was attracted, but significantly higher than the first quarter of 2024 result of US$380.1 million.

As noted, liberalization of currency regulation became one of the key factors behind the growth of outward investment. Since 1 January 2026, residents of Uzbekistan have been permitted to invest in US companies without any limit on the amount and without obtaining government permission, provided that the funds are held in their accounts in banks of Uzbekistan. Previously, an appropriate government permission was required for transactions exceeding US$10,000.

The next stage of currency regulation liberalization will begin on 17 September 2026 and will extend to investment transactions in other foreign states.

From this date, individuals will be able to make foreign investments up to US$10,000 per year without obtaining a separate permission.

For legal entities without a state share, a limit of up to US$200,000 has been set for the formation of authorized capital and participation in foreign enterprises, and up to US$100,000 for replenishing the working capital of branches. For legal entities with state participation, the corresponding limits will stand at up to US$100,000 and up to US$50,000 respectively.