Uzbekistan FDI Hits $32.9B — Up 2.6x in Five Years

Tashkent, Uzbekistan (UzDaily.com) — Foreign investment accumulated in Uzbekistan from Eurasian nations, China, Gulf states, and Turkey reached $32.9 billion in 2025 — a 2.6-fold increase over 2020 — according to the Eurasian Development Bank's Mutual Investment Monitor, marking one of the most striking capital inflow stories in the region.

The five-year gain of more than $20 billion reflects a sustained and diversifying investor base, spanning energy, petrochemicals, manufacturing, and infrastructure across multiple source geographies.

Eurasia Leads by Volume, Russia Remains Anchor Investor

Countries of the Eurasian region — encompassing CIS states, Georgia, Mongolia, and Ukraine — collectively account for the largest share of accumulated investment at $10.8 billion. The bulk of these funds flow into the oil and gas sector and petrochemicals. Russia remains the dominant bilateral investor within this group, though Kazakhstan has registered significant investment growth in recent years.

China Closes the Gap, Bets Heavily on Power Generation

China is Uzbekistan's single largest foreign investor, with accumulated FDI reaching $10.7 billion. More than half of Chinese capital is directed toward the electricity sector, including solar and wind generation projects. Industrial investments in petrochemicals, automobile manufacturing, and construction materials production round out the portfolio.

Gulf Capital Delivers the Most Dramatic Growth

The standout figure in the EADB report belongs to Gulf Cooperation Council states, whose cumulative investment has risen nearly 19-fold to reach $8.3 billion. The surge is driven primarily by electricity and renewable energy projects, with ACWA Power, Masdar, and the UzOman investment platform among the most prominent players.

Turkey Multiplies Its Stake Fivefold

Turkish investment has grown 5.5 times over the period, reaching $3.1 billion. Capital from Turkey concentrates in electricity generation and manufacturing, with Aksa Energy among the key contributors alongside producers in construction materials and industrial goods.

The EADB data positions Uzbekistan as one of the Eurasian region's most attractive investment destinations, underpinned by large-scale infrastructure and industrial project pipelines that continue to draw diverse institutional and sovereign capital.

The figures arrive as Uzbekistan's government pushes simultaneously on multiple fronts to deepen its investment framework — from this week's Foreign Investor Council session under President Mirziyoyev, which logged 85 member companies across 23 sectors, to active privatization talks with global asset managers including Templeton Global Investments.