Uzbekistan, Kazakhstan raise record volumes of FDI in 2022

By Muzaffar Ismailov in Tashkent July 9, 2023

Uzbekistan raised a record $2.5bn in foreign direct investment (FDI) in 2022, according to the report of the UN Conference on Trade and Development (UNCTAD). Compared to 2021, the volume increased by 11%. Neighbouring Kazakhstan, meanwhile, has managed to attract even more – $6.1bn, with the figure going up almost two-fold year on year. Dutch and American multinational companies have invested more than $4.1bn in Kazakhstan's mining industry.

Last year, the volume of FDI in the world decreased by 12.4%, to $1.3 trillion. The reasons for this were the armed conflict in Ukraine, high food and energy prices, recession risks, as well as the debt burden in many countries. Despite the fact that the negative factors have somewhat weakened, they have not completely disappeared, as high geopolitical tensions persist.

The inflow of FDI to developed countries fell by 37% to $378bn. The decline in investment flows was explained by uncertainty in financial markets and the curtailment of stimulus packages.

Nevertheless, the flow of foreign investment to developing countries rose by 4%, reaching a record $916bn. Thus developing countries accounted for up to two thirds of the global volume of FDI.

The inflow of foreign investments to Central Asia increased by 39%, to $10bn. However, most of the growth occurred in Kazakhstan and Uzbekistan.

#Uzbekistan #Kazakhstan #RussiaUkraineWar #finance #FDI

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