Uzbekistan registers over 1,800 new foreign-invested companies in first half of 2025

As of July 1, Uzbekistan was home to 16,685 companies with foreign founders, according to a report from the National Statistics Committee.

In the first half of 2025, the number of such companies grew by 12.2% (an increase of 1,814). Of these, 4,124 (+4%) are joint ventures, while 12,561 (+15.2%) are fully owned by foreign investors.

China continues to lead in investment activity, with 4,192 companies – accounting for a quarter of all foreign-invested firms. This figure rose by 124 in June and by 835 since the beginning of the year.

Russia ranks second, with 3,098 companies – up by 12 since May and by 161 since January. Notably, Uzbekistan hosts more joint ventures with Russian investors (905) than with Chinese investors (647).

Turkey ranks third with 2,007 companies, up by 10 in June and by 181 over the half-year. It is followed by Kazakhstan with 1,157 companies (+21 in June and +116 year-to-date), and South Korea, now in fifth place, with 687 companies (+13 in June).

Afghanistan, for the first time in recent months, saw a decline of two companies, bringing its total to 680. The next countries in the ranking include the United Arab Emirates with 374 companies (+4), Tajikistan with 357 (+10), India with 333 (+7), and Kyrgyzstan with 327. The United States dropped out of the top 10, with 321 companies – an increase of only one in June.

Approximately 36% (6,038) of foreign-invested enterprises operate in the trade sector. Industry ranks second with 3,450 companies, including 1,390 joint ventures. The construction sector follows with 1,256 companies, and the IT and communications sector with 1,210.

Nearly two-thirds of all companies with foreign investment are based in Tashkent, including 2,280 joint ventures (55%). The Tashkent region accounts for another 2,000 firms, followed by the Samarkand region with 621, Surkhandarya with 554, and Fergana with 547.