SUSTAINABLE DEVELOPMENT OF FOREIGN INVESTMENTS IN UZBEKISTAN’S ECONOMY: ANALYSIS, CHALLENGES, AND OPPORTUNITIES
DOI:
https://doi.org/10.5281/zenodo.17446076Keywords:
Import and export, gross domestic product (GDP), foreign direct investment (FDI), law, taxation.Abstract
This article examines the sustainable development of foreign investments in Uzbekistan’s economy, with a
focus on the structural factors influencing investment inflows and their long-term economic implications. Framed within
the context of Uzbekistan’s “Uzbekistan–2030” strategy and ongoing liberalization reforms, the research underscores
the critical role of foreign direct investment (FDI) in fostering economic diversification, technological advancement, and
infrastructure development. Employing a quantitative research approach, the study analyzes macroeconomic data from
2017 to 2024, including investment volumes, sectoral distribution, and export performance. The findings reveal a substantial
increase in foreign investments totaling $87 billion and a corresponding rise in GDP growth to 6.5% in 2024. Key sectors
such as mining, energy, and manufacturing have demonstrated notable expansion, while the overall investment efficiency
remains uneven across industries. The study also identifies persistent challenges, including regulatory complexity,
underdeveloped infrastructure, and institutional barriers. In response, the article proposes policy measures aimed at
enhancing legal protections for investors, promoting public-private partnerships, and strengthening environmental and
social safeguards. These findings contribute to the academic discourse on sustainable investment strategies in emerging
markets and highlight the need for further research at the microeconomic level to support evidence-based policymaking.
References
Decree of the President of the Republic of Uzbekistan “On the Development Strategy of New Uzbekistan for 2022–
” No. PF-60, January 28, 2022. https://lex.uz/
Decree of the President of the Republic of Uzbekistan “On the Uzbekistan – 2030 Strategy” No. PF-158, September
, 2023. https://strategy.uz/
Mirziyoyev, Sh.M. (2022). The Development Strategy of New Uzbekistan. Second revised edition. Tashkent:
“O‘zbekiston” Publishing House. https://www.researchgate.net/publication/347600905_Strategy_of_Renewal_of_
National_Spirituality_of_Uzbekistan
Shadiyeva, G.M. (2023). Ways to Improve the Investment Climate Attractiveness in Our Country. Economics and
Education, Issue 1 (2023), pp. 71-74.
Tillayev, S.Y. (2023). Sustainable Development of the Economy in Uzbekistan Due to Foreign Investments. Eurasian
Journal of Social Sciences, Philosophy, and Culture. Innovative Academy Research Support Center, pp. 64-67.
Karimova, G.A. (2020). Problems of Attracting Foreign Investment into the National Economy. EPRA International
Journal of Research and Development (IJRD), Vol. 5(7).
G‘ozibekov, D.G‘., Nosirov, E. I. (2007). Supporting Foreign Investments in the Economy of Uzbekistan. Tashkent:
Iqtisod-moliya, 92 pages.
World Bank. (2023). Uzbekistan Country Economic Update: Sustaining Growth Amid Global Uncertainty. https://www.
worldbank.org/en/country/uzbekistan/overview
International Monetary Fund (IMF). (2023). Uzbekistan: Economic Outlook and Foreign Investment Trends. IMF
Country Report No. 23/145. https://www.imf.org/en/Countries/UZB
UNCTAD (United Nations Conference on Trade and Development). (2023). World Investment Report 2023: Uzbekistan’s
FDI Performance and Prospects. https://unctad.org/system/files/official-document/wir2023_en.pdf
Dunning, J.H. (2008). Multinational Enterprises and the Global Economy. Cheltenham, UK: Edward Elgar Publishing.
Dani Rodrik (2011). The Globalization Paradox: Democracy and the Future of the World Economy».
Jeffrey D. Sachs (2025). The End of Poverty: Economic Possibilities for Our Time» Penguin Books Limited.
