According to research, accumulated mutual investments between the countries of the region have significantly increased. In 2024-2025, their growth amounted to about 400 million dollars (+42 percent), bringing the total volume to 1.3 billion dollars. Compared to 2020, the volume of mutual foreign direct investments has increased nearly four times, indicating strong investment ties in the region.
Kazakhstan holds a leading position among investors, accounting for 72 percent (930 million dollars) of all outgoing investments, corresponding to 21 projects.
Uzbekistan, in turn, forms 28 percent (370 million dollars) of the total volume of outgoing investments, increasing its portfolio more than fourfold.
The main recipients of investments are Uzbekistan and Kyrgyzstan, which received 680 million and 450 million dollars, respectively. Together, this accounts for 87 percent of the total inflow of foreign direct investments from other Central Asian countries.
Analysts emphasize that there is a shift in the sectors attracting investments:
- Construction: the share has increased from 2 to 34 percent (+430 million dollars) due to the activity of Kazakh developers in Uzbekistan;
- Manufacturing: retains its strategic importance with a share of 25 percent, with investment growth of 250 million dollars;
- Financial sector: reduced its share from 50 to 20 percent against the backdrop of bank asset sale transactions and more cautious investment activity.
Key projects contributing to the growth of intraregional investments include the construction of residential complexes in Tashkent with the participation of Kazakh companies, investments from Kazakhstan in "Optima Bank" in Kyrgyzstan, as well as Uzbek investments in a household appliance manufacturing plant in the Karaganda region of Kazakhstan.
