In the first half of 2025, Tajikistan attracted a record $3.3 billion in foreign direct investment, a 59.4% increase compared to the same period in 2024. This surge marks an unprecedented investment boom and a significant shift in the country’s financial partnerships, according to Asiaplus.tj.
Russia remains the top investor, nearly doubling its investments from $716 million to $1.3 billion, driven by deepening economic integration and the development of Eurasian transport corridors.
A major surprise was the United Arab Emirates (UAE) rising to second place with $448 million in investments—almost four times higher than in 2024. The Emirates are actively investing in energy and infrastructure, positioning Tajikistan as a strategic hub in Central Asia.
The British Virgin Islands ranked third with $336 million, a more than fivefold increase, highlighting the use of offshore financial structures by international investors.
China, despite increasing its investments to $309 million, did not make it into the top three for the first time. In 2022, China was the largest investor with $462.9 million, underscoring a dramatic transformation in Tajikistan’s investment landscape.
However, the investment structure raises concerns: not a single dollar was invested in the Gorno-Badakhshan Autonomous Region during the first half of 2025, compared to $1.3 million in the same period last year—indicating uneven regional distribution.
This growth coincides with increased international cooperation. President Emomali Rahmon recently discussed infrastructure and energy projects with the Asian Infrastructure Investment Bank (AIIB). In September, Dushanbe will host an international tourism investment forum with over 200 participants from 20 countries.
The emergence of offshore jurisdictions and UAE investors reflects global trends of capital reallocation amid sanctions and the search for alternative financial routes—potentially turning Tajikistan into a regional financial transit hub.
CentralasianLIGHT.org
September 1, 2025