Kazakhstan Attracts Nearly 70% of Central Asia’s Foreign Investment, UN Report Shows

2026-03-18 - 07:02

The Astana Times provides news and information from Kazakhstan and around the world. ALMATY – Kazakhstan accounts for nearly 68% of all foreign direct investment (FDI) accumulated in Central Asia, highlighting its position as the region’s primary destination for international capital, according to the recent United Nations Conference on Trade and Development (UNCTAD) World Investment Report. Photo credit: Shutterstock The total stock of foreign investment in Kazakhstan has reached $151.3 billion, reflecting the scale of international capital operating in the country’s economy. The indicator measures the value of foreign-owned assets such as enterprises, industrial facilities, infrastructure and technologies created through foreign investment. The size of these investments is particularly notable when compared with the country’s economic output. According to UN data, Kazakhstan’s gross domestic product (GDP) reached $291.5 billion in 2024, meaning that the stock of foreign investment equals about 51.9% of GDP. Kazakhstan dominates regional investment Across Central Asia, Kazakhstan remains the leader in attracting international capital. The combined GDP of the four neighboring Central Asian countries such as Uzbekistan, Turkmenistan, the Kyrgyz Republic and Tajikistan totaled roughly $215 billion in 2024, while their combined FDI stock reached $69.3 billion. Together, these economies hold less than half the amount of foreign investment accumulated in Kazakhstan alone. As a result, nearly 68.6% of all foreign direct investment operating in Central Asia is concentrated in Kazakhstan. The report also shows how Kazakhstan’s investment position compares internationally. In the Baltic states such as Estonia, Latvia and Lithuania, which are integrated into the European Union, foreign investment also plays a significant role in economic development. In Estonia, FDI stock equals 73.9% of GDP, while in Latvia it stands at 55.2% and in Lithuania 40.9%. Together, the three Baltic economies generate around $171.4 billion in GDP, with a combined FDI stock of $97.5 billion. Kazakhstan alone exceeds those figures, both in terms of economic size and the overall volume of accumulated foreign investment. Investment gap widened over time UNCTAD data show that Kazakhstan’s leadership in attracting foreign investment developed gradually after independence in 1991. In 2000, Kazakhstan’s accumulated FDI amounted to $10.1 billion, only moderately higher than in the Baltic states. At that time, the figure was roughly 3.9 times higher than in Estonia, 4.4 times higher than in Lithuania and 4.8 times higher than in Latvia. Investment levels in other Central Asian countries were minimal: Turkmenistan had $1.8 billion in FDI stock, Uzbekistan – $0.7 billion, the Kyrgyz Republic – $0.4 billion, and Tajikistan – $0.2 billion. By 2010, investment in Kazakhstan had grown rapidly, reaching $63.4 billion, widening the gap with neighboring economies. During the same period, foreign investment in Russia also expanded quickly, reaching $336.3 billion. By 2023, Kazakhstan had emerged as one of the main investment centers in