Results of measures to attract foreign investment to Uzbekistan in 2017-2022

Tashkent, Uzbekistan (UzDaily.com) -- Experts from the Institute for Forecasting and Macroeconomic Research (IPMI) analyzed the results of measures taken in 2017-2022 in order to attract foreign investment to Uzbekistan.

In the past few years, Uzbekistan has pursued a policy of openness, removing various barriers to business and investment.

Today, the republic closely cooperates with such major international financial institutions and organizations as the World Bank, the Asian Development Bank, the Islamic Development Bank, the European Bank for Reconstruction and Development, the Asian Infrastructure Investment Bank.

As a result of an active foreign policy, the geography of countries inverting into the economy of Uzbekistan is expanding. By 2022, the number of stable investing countries-investors has grown to 50, the leading positions among which are occupied by the Russian Federation, China, Turkey, Germany and South Korea.

By the end of 2022, the volume of inflow of foreign investments and loans into the republic increased to US$9.8 billion compared to US$3.3 billion in 2017, or almost three times. As a result, the share of foreign investments and loans in the total volume of investments in the economy increased from 23.8% to 40.5%.

In turn, if in 2017 the volume of foreign direct investment and loans in our economy amounted to US$2.5 billion, then by 2022 this figure increased by 3.4 times and reached US$8.5 billion, and their share in total investment increased from 17.7% to 35.4%.

The number of enterprises and organizations with foreign investment is also increasing every year: if in 2017 there were 5.5 thousand enterprises with foreign capital, by 2022 their number reached 15.8 thousand, of which 6.4 thousand are joint enterprises, and 9.3 thousand - completely foreign.

Of the total number of enterprises with foreign investment, 30.5% operate in trade, 27.5% in industry, 8.0% in construction, 4.8% in agriculture, 4.1% in housing and public catering, 2.9% - in the field of transportation and storage, 4.8% - in the field of information and communications, 17.4% - in other industries.