Kazakhstan Holds $156.4 Billion of Central Asia FDI Stock as Uzbekistan Posts Strongest 2025 Gain
Updated
Updated · Astana Times · Jul 23
Kazakhstan Holds $156.4 Billion of Central Asia FDI Stock as Uzbekistan Posts Strongest 2025 Gain
1 articles · Updated · Astana Times · Jul 23
Summary
$235.5 billion in FDI stock was held across Central Asia in 2025, up 3.6%, with Kazakhstan accounting for nearly 66% of the regional total at $156.4 billion, UNCTAD said.
Uzbekistan delivered the sharpest annual stock growth, rising to $26 billion from $20.5 billion, while Kazakhstan also drew major project announcements including East Hope Group's more than $12 billion metals investment.
$4.97 billion in regional FDI inflows marked a 12.1% rebound from 2024, but remained far below 2022's $9.8 billion as Uzbekistan attracted nearly $4.4 billion and Kazakhstan swung to net outflows of $861 million.
UNCTAD said investment was concentrated in metals, energy, transport and digital infrastructure, reflecting a broader global shift toward semiconductors, AI infrastructure, renewables and battery supply chains.
Kazakhstan is trying to use that shift to move beyond extractive industries, betting on critical-mineral processing, data centers, renewable energy and transport links to capture higher-value investment.
As the US and China vie for Central Asia's minerals, can the region avoid becoming a new dependency trap?
With geopolitical risks and infrastructure hurdles, is Central Asia's Middle Corridor a viable long-term trade route for Europe?
Kazakhstan and Uzbekistan Drive Central Asia’s FDI Boom: Sectoral Diversification, Geopolitics, and Sustainability Challenges
Overview
Central Asia has rapidly increased its share of global investments since 2023, reaching 50% in that year and climbing to 57% by mid-2025. This surge highlights the region’s growing appeal for foreign direct investment. Kazakhstan leads this trend, building on its established position by investing in transcontinental transport routes and expanding its role as a manufacturing base and critical-mineral processing hub. These strategic moves help Kazakhstan capitalize on shifting global supply chains and reinforce its status as a vital gateway to regional markets, driving Central Asia’s transformation into a key investment destination.