Russian Business Investments Shift to Central Asia, Doubling in Growth
February 18, 2025
Central Asia has become attractive for Russian business investments. Over the last two years, investments have grown to US$38 billion, as reported by Denis Manturov, First Deputy Prime Minister and former Minister of Industry and Trade, at the "INNOPROM. Central Asia" International Industrial Trade Fair in Tashkent in April last year.
He has noted that about 24,000 companies with Russian capital are operating in the region. To compare: in 2022, these figures were much lower: US$25 billion in investments and 10,000 companies, as reported by Mikhail Galuzin, Russian Deputy Foreign Minister.
According to Botirjon Asadov, Uzbekistan's Ambassador to Russia, the number of companies with Russian stakeholders in Uzbekistan doubled between 2020 and 2023. Despite the sanctions, Russia maintains a strong presence in the economies of its southern neighbors.
The region is attractive with its favorable tax policy and relatively low labor costs. This has resulted in intense flow of investments and fierce business activity. Russian companies under sanctions are looking for new opportunities to deploy their capital, while Central Asian countries are interested in incoming investments.
We can expect that the collaboration between Russia and the Central Asia countries will continue to grow, gradually replacing the Western countries. "INNOPROM. Central Asia" which will be held in Uzbekistan for the fifth time this year, is an important venue for strengthening these ties and discussing promising projects.
Source
He has noted that about 24,000 companies with Russian capital are operating in the region. To compare: in 2022, these figures were much lower: US$25 billion in investments and 10,000 companies, as reported by Mikhail Galuzin, Russian Deputy Foreign Minister.
According to Botirjon Asadov, Uzbekistan's Ambassador to Russia, the number of companies with Russian stakeholders in Uzbekistan doubled between 2020 and 2023. Despite the sanctions, Russia maintains a strong presence in the economies of its southern neighbors.
The region is attractive with its favorable tax policy and relatively low labor costs. This has resulted in intense flow of investments and fierce business activity. Russian companies under sanctions are looking for new opportunities to deploy their capital, while Central Asian countries are interested in incoming investments.
We can expect that the collaboration between Russia and the Central Asia countries will continue to grow, gradually replacing the Western countries. "INNOPROM. Central Asia" which will be held in Uzbekistan for the fifth time this year, is an important venue for strengthening these ties and discussing promising projects.
Source
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