Uzbekistan’s Capital Investments Reach Record 591.1 Trillion Soums in 2025

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan’s economy closed 2025 with strong investment activity, showing robust growth in capital investments.

According to the State Committee on Statistics, the total volume of investments from January to December reached a record 591.1 trillion soums, up 10.5% in real terms compared to the previous year.

An analysis of trends over the past five years highlights the scale of transformation: since 2021, capital investments have increased nearly 1.8 times. In 2021, investments in fixed capital totaled 236.6 trillion soums, approaching 600 trillion soums by the end of 2025.

A notable feature of 2025 was the continued dominance of non-centralized financing sources. Over 90% of all investments came from outside the state budget, indicating a reduced direct burden on public funds and growing private sector confidence. The driving force behind this trend was foreign direct investment and loans, which accounted for 40.5% of total investments, increasing by 46.9% compared to 2024. In monetary terms, foreign capital amounted to approximately 239.4 trillion soums.

Investments from centralized sources totaled 62.6 trillion soums, up 13.6% from 2024, representing 10.6% of the overall investment volume. Other significant funding sources included company equity, which reached 147.8 trillion soums (up 7.7%), household contributions of 38.4 trillion soums (up 12.3%), and commercial bank loans of 22.1 trillion soums.

Investors continued to prioritize high value-added sectors. The manufacturing industry remained the largest recipient, attracting 27.2% of all funds, or around 160.8 trillion soums. Significant resources were also directed to the energy and gas supply sectors (14.0%) and the mining industry (10.8%). Of particular note was a sharp increase in investment in agriculture, with the sector’s share nearly doubling to 8.8%.

Investment inflows were actively converted into physical infrastructure. In 2025, Uzbekistan commissioned 15.2 million square meters of housing, an increase of 11.2% over the previous year. More than 65% of new housing was built in rural areas, underscoring the strategic focus on regional development.

Social infrastructure was also expanded: 482 km of new water supply networks were constructed, alongside a number of educational and medical facilities, reflecting the balanced nature of economic growth.

The total volume of foreign investments and loans utilized in 2025 amounted to US$33.5 billion, or 422.1 trillion soums, directed toward the creation of new fixed assets, confirming the growing role of external capital in modernizing and developing the country’s economy.