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    Economics

    1Q24 Uzbekistan will implement $78.6bn investment projects

    1Q24 Uzbekistan will implement $78.6bn investment projects

    Uzbekistan, the second largest economy in Central Asia, plans to implement $78.6bn of investment projects in 1Q24. According to the information reflected in the investment program, the focus will be on infrastructure and green energy projects. Many of the projects were initiated years prior with many others set to begin in 1Q24.

    Total Cost of Foreign Investments by Country

    Uzbekistan 1Q24 foreign investment projections
    Daryo

     

    The projected investment landscape in Uzbekistan for Q1 2024 showcases a potential influx of foreign capital totaling $78.6bn, with contributions from a diverse array of countries. China leads the investment contributions with $19.98bn, accounting for 24.14% of the total, underscoring its significant economic influence and strategic interests in Uzbekistan. The unique partnership between Switzerland and Cyprus follows, contributing $11.48bn or 14.61%, highlighting the collaborative investment efforts and their substantial stake in the region's development. Germany, with a 7.22% share amounting to $5.68bn, Turkiye, Russia, the UAE, and Saudi Arabia, among others, have also made significant investments, each adding over $1bn.

    The investments span a range of sectors, from infrastructure and energy to technology and healthcare. Smaller investments from countries like Great Britain, France, Qatar, Japan, Egypt, and Kazakhstan, although contributing less than $1bn individually, cumulatively play a role in diversifying the investment portfolio of Uzbekistan. The participation of other countries, including Italy, South Korea, and Hungary, further indicates the international interest in Uzbekistan's market and the opportunities it presents for global investors.

    Sectoral Analysis of Projects

    Distribution of projects by sector for projected foreign investment
    Daryo

     

    The projects enumerated in the dataset span various sectors, with an emphasis on renewable energy, infrastructure, and the chemical industry. Our categorization revealed a focus on solar energy (32 projects), reflecting a global shift towards sustainable energy sources. Other sectors identified include wind energy, power plant projects, and gas-chemical ventures, with the majority of projects classified under a broad "Other" category. 

    Country Share in Sectors

    A closer look at the sector-wise distribution and country share reveals targeted investment strategies. Notably, investments from Switzerland and Cyprus are concentrated in the gas-chemical sector, while China's vast investment portfolio spans multiple sectors, highlighting its multifaceted investment approach in Uzbekistan. The analysis indicates a strategic alignment of foreign investments with key development areas in Uzbekistan, including renewable energy, infrastructure, and industrial development.

    Analysis and Implications

    The influx of foreign investments in Uzbekistan for Q1 2024 demonstrates the country's growing appeal as an investment destination. The considerable investments from China and Germany not only signify strong bilateral relations but also reflect Uzbekistan's strategic position in regional development and its potential in sectors like renewable energy and infrastructure.

    The emphasis on renewable energy projects, particularly solar and wind, aligns with global sustainability goals and Uzbekistan's commitment to green energy. 

    Daryo previously reported that the government of Uzbekistan aimed to attract $7.2bn in foreign investment during the first quarter of 2024 to support economic growth and development across various sectors. 

    *Most projects mentioned in the document are still in the planning so the data available is subject to change in the coming months.

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    23.02.2024, 10:03   Comments (0)   4361
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    Tawney Kruger

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