Russia's direct investments in the economy of Uzbekistan in the first half of 2022 reached $8.8 billion, mainly in fossil fuel production, the Eurasian Development Bank (EDB) Center for Integration Studies reported.
“Over the past six years, the accumulated Russian FDI in Uzbekistan has increased by 2.1 times. The active growth of Russian investment in Uzbekistan indicates a significant improvement in the investment climate in the country,” the report says.
The largest investment projects are related to the fuel and energy sectors. Companies from the Russian Federation are also actively investing in the telecommunications sector, the production of chemicals and building materials.
The EDB notes that last year the investment activity of Russian investors in the post-Soviet space intensified aggressively supporting existing projects and business relocation.
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