Kazakhstan holds 66% of Central Asia's FDI stock at $156.4 billion

July 23, 2026 at 12:29 PM1 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Central Asia's foreign direct investment stock rose 3.6% to $235.5 billion in 2025, with Kazakhstan accounting for nearly two-thirds of the total, according to UNCTAD's World Investment Report. Kazakhstan's FDI stock reached $156.4 billion, up from $155.1 billion in 2024, while Uzbekistan posted the strongest annual increase to $26 billion. The region's FDI inflows rose 12.1% to $4.97 billion, driven by Uzbekistan, even as Kazakhstan recorded net outflows of $861 million.

FDI Stock Dominance

Kazakhstan held nearly 66% of Central Asia's total FDI stock at $156.4 billion in 2025, up from $155.1 billion in 2024 and $82.6 billion in 2010. Uzbekistan recorded the strongest annual increase, with its stock rising from $20.5 billion to $26 billion. The region's total FDI stock reached $235.5 billion, a 3.6% increase year-on-year.

Inflows Divergence

Central Asia's FDI inflows rose 12.1% to $4.97 billion in 2025, but remained well below the $9.8 billion recorded in 2022. Uzbekistan attracted nearly $4.4 billion, driving the regional recovery, while Kazakhstan posted net outflows of $861 million, compared with net inflows of $227 million in 2024. The Kyrgyz Republic saw inflows more than double to $642 million, while Tajikistan's fell 70% to $86 million.

Sectoral and Global Context

Resource and infrastructure projects in Kazakhstan and Uzbekistan dominated regional investment, with metals and metal products accounting for 45% of greenfield projects. Globally, FDI rose 6% to $1.6 trillion in 2025, with the US receiving $277 billion as the top destination. Semiconductors, AI infrastructure, and renewable energy drove large projects worldwide.