INVESTMENT CLIMATE IN CENTRAL ASIA AND UZBEKISTAN’S PERSPECTIVES IN ATTRACTING FDI
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Abstract
This paper analyzes Uzbekistan’s evolving investment climate within Central Asia’s broader FDI trends. Despite global declines in investment due to high interest rates and geopolitical tension, the region saw renewed inflows in 2024, driven by clean energy and infrastructure. Uzbekistan’s reforms currency liberalization in 2017 and a modern PPP law in 2019 have made projects more bankable. Case studies such as ACWA Power’s wind program, Masdar’s solar-plus-storage plant, and the BYD–UzAuto EV factory illustrate growing investor confidence. Remaining challenges include contract enforcement, state dominance, and shallow financial markets. Continued institutional reform and deeper local-currency finance will be essential for sustaining Uzbekistan’s momentum as a regional hub for sustainable and diversified investment.Central Asia; Uzbekistan; foreign direct investment (FDI); investment climate; economic reforms; currency liberalization; public-private partnership (PPP); renewable energy; solar and wind projects; electric vehicles; financial markets; sustainable development.
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References
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