Kyrgyzstan is the main recipient of direct intra-regional investments in Central Asia, accounting for 63%, according to the "Monitoring of Mutual Investments - 2023" by the Eurasian Development Bank, Asiaplustj.info reports.
Uzbekistan receives 24% of investments, Kazakhstan 11%, Tajikistan 2%, and there are no projects involving Turkmenistan.
According to EDB's assessment, these investments are directed into 27 major projects currently in the implementation stage.
The total volume of accumulated mutual direct investments in the region amounts to $1.1 billion. The five largest projects in the region are being implemented by Kazakh companies Kaz Minerals, United Cement Group, "People's Bank," and "Verny Capital" (two projects). Two other major projects are implemented by Uzbek companies Artel and Alliance Textile.
The main investors in the region are Kazakhstan and Uzbekistan, accounting for approximately 87% and 13% of the investments, respectively.
Kaz Minerals' investment in the Bozymchak open-pit gold-copper mine in Kyrgyzstan, amounting to $350 million, represents 32% of the total volume of mutual investments in the Central Asian region.
The largest Uzbek investor in the region is Artel, which entered the Central Asian market in 2018 by establishing refrigerator production in Kyrgyzstan for domestic sales. Later, the company opened plants in Kazakhstan and Tajikistan.
In the financial services sector, 22% of mutual direct investments in Central Asia, totaling $242 million, are concentrated. All projects in this industry are carried out by Kazakh banks.
CentralasianLIGHT.org
December 20, 2023