In the dynamic landscape of international investment, Uzbekistan is emerging as a favored destination, attracting significant capital inflows from various countries. According to recent data released by the Statistics Agency, investments in the fixed capital of Uzbekistan surged to UZS 107.1 trillion ($8.4bn) in the first quarter of 2024, marking an uptick in economic activity within the Central Asian nation.
What's particularly striking is the substantial portion of these investments originating from foreign sources, comprising a substantial 68.9% of the total volume injected into Uzbekistan's fixed assets during the period under review. This robust influx of foreign funds underscores the growing confidence of global investors in Uzbekistan's economic potential and favorable investment climate.
Breaking down the numbers, a clear picture emerges of the countries that are spearheading this surge in investment. Topping the list is China, which accounted for a 23% share of the total investments. The strategic partnership between Uzbekistan and China, bolstered by initiatives such as the Belt and Road Initiative, continues to drive substantial Chinese investments into various sectors of Uzbekistan's economy.
Following closely behind is Russia, contributing 13.8% of the total investment volume. The historical ties between the two nations, coupled with Russia's keen interest in expanding its economic footprint in Central Asia, have cemented its position as one of Uzbekistan's key investment partners.
Türkiye also stands out prominently among the top investors, with an 8.5% share of the investment pie. The burgeoning economic cooperation between Uzbekistan and Türkiye, fueled by shared cultural affinities and strategic partnerships, has laid the groundwork for increased Turkish investment across multiple sectors in Uzbekistan.
Saudi Arabia and the United Arab Emirates (UAE) have also made significant contributions, accounting for 7.2% and 4.8% of the total investments, respectively. The Gulf countries' focus on diversifying their investment portfolios and tapping into emerging markets has led them to explore lucrative opportunities in Uzbekistan's burgeoning economy.
Rounding off the list is Germany, with a respectable 3.8% share of the investment volume. Despite being geographically distant, Germany's reputation for technological expertise and innovation has positioned it as a sought-after partner for Uzbekistan, particularly in sectors such as manufacturing and infrastructure development.
The substantial influx of foreign investments underscores Uzbekistan's growing appeal as an attractive destination for global capital, driven by its strategic location, abundant natural resources, and ambitious economic reforms.
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