The landscape of foreign investment in Uzbekistan remains robust, with 14,226 companies operating in various sectors across the country, as of April 1, as reported by the Statistics Agency.
This figure comprises 4,576 joint ventures and 9,650 subsidiaries of foreign entities, showcasing a steady presence of international businesses in the Uzbek market since the beginning of the year.
Among the top contributors, Russia maintains its leading position with 3,019 companies, despite experiencing a slight decrease of 0.8% in the first quarter. Notably, Chinese investment continues to surge, with 2,501 companies marking a 7% increase compared to the previous year's end.
Turkey secures the third spot with 1,886 firms, witnessing a marginal growth of three companies since January. The influx of Kazakh investment sees a rise to 1,102 enterprises, reflecting a 3.6% increase. Meanwhile, South Korean-backed companies remain stable at 727, albeit with a minor decline of nine entities.
Conversely, the number of enterprises with U.S. investment decreased by two, totaling 313. Noteworthy shifts include Tajikistan surpassing Kyrgyzstan in joint ventures, with 307 versus 280, representing a significant surge of 29 companies. Additionally, new entrants from Germany and Turkmenistan contributed five and seven companies, respectively.
Despite a record year in 2022, foreign investment activity in Uzbekistan witnessed a slowdown in 2023, with a collective decrease of 11% in the total number of firms with international investments.
Earlier Daryo reported that in 2023, Uzbekistan experienced significant growth in foreign investments, reaching $22.4 bn. Of this amount, $19.5 bn comprised direct foreign investments and loans, marking a remarkable surge of 193%. The initiation of 306 projects through the state investment program resulted in the generation of more than 56,000 employment opportunities, driving economic advancement and prosperity.
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