PROSPECTS FOR ENHANCING THE ROLE OF FOREIGN INVESTMENT IN UZBEKISTAN’S ECONOMIC GROWTH

Abstract

Foreign direct investment (FDI) continues to play a decisive role in Uzbekistan's economic transformation and sustainable economic growth. Over the past several years, the country has implemented comprehensive structural reforms aimed at liberalizing the economy, improving the investment climate, strengthening private sector development, and integrating into the global economy. These reforms have significantly increased investor confidence and contributed to a steady rise in foreign capital inflows. According to the Ministry of Investment, Industry and Trade of Uzbekistan, total foreign investment reached USD 34.9 billion in 2024, representing an increase of approximately 18% compared to 2023. Of this amount, USD 11.9 billion consisted of foreign direct investment and foreign loans, while FDI accounted for 10.3% of GDP, compared with 7.9% in the previous year. This performance positioned Uzbekistan among the fastest-growing investment destinations in Central Asia despite the slowdown of global investment flows.