Uzbekistan’s fixed capital investment grows 14-fold over 35 years

Uzbekistan has witnessed a massive surge in investment activity over the past three and a half decades, with the volume of funds directed toward the economy and social sectors growing 14.2 times compared to 1991 levels.

Preliminary data from the National Statistics Committee reveals that in 2025 alone, fixed capital investments from all financing sources reached UZS 591.1 trillion.

The historical trajectory of investment in the republic reflects a consistent and accelerating upward trend. Starting from 11.6 billion rubles in 1991, the volume transitioned into the national currency following independence, reaching UZS 88.9 billion in 1995 and UZS 744.5 billion by 2000. By the mid–2000s, the figure climbed to UZS 3,165.2 billion, marking the beginning of a period of rapid industrial and infrastructural expansion.

The last decade has seen the most dramatic shift in investment scale. From UZS 44,810.4 billion in 2015, the annual investment volume soared to UZS 210,195.1 billion in 2020. This momentum has continued unabated in recent years, with figures rising from UZS 356,071.4 billion in 2023 to UZS 507,490.2 billion in 2024, culminating in the record-breaking preliminary total for 2025.

Economists attribute this growth to large-scale structural reforms, the liberalization of the economy, and an improved investment climate that has successfully attracted both domestic and foreign capital.