Uzbekistan’s fixed capital attracts $28.5bn in 2023

Uzbekistan’s fixed capital saw an influx of investments in 2023, amounting to a total of UZS 352.1 trillion ($28.5bn), National Statistics Agency reported. 53.4% of this sum was contributed by foreign states and international loans.

Photo: Uzbekistan’s fixed capital attracts $28.5bn in 2023
Source: Piqsels

China emerged as the leading investor in Uzbekistan’s economy in the past year, contributing 25.3% of the total foreign investment. Russia followed closely, accounting for 13.4% of the foreign investment.

Completing the top three was Saudi Arabia, with a 7.9% contribution. Turkey and the United Arab Emirates also made it to the top five, with respective contributions of 6.4% and 5.8%.

The volume of Foreign Direct Investment (FDI) in Uzbekistan’s economy witnessed a significant surge in 2023, reaching $7.2bn. This marked a twofold increase from the previous year, as per the Central Bank’s report.

The majority of the foreign investment was received in the last quarter of 2023, amounting to $3.4bn. The regulator reported that the volume of remittances returned to the medium-term trend level, reaching $11.2bn.

By the end of 2023, Uzbekistan had attracted international loans worth $2.8bn. The Asian Development Bank allocated $615.6mn to Uzbekistan, followed by the World Bank with $552.4mn, and China with $398.8mn.

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