Investing in Uzbekistan in 2026
Europe & Central Asia
45
Score
Caution Investment Destination
Significant risks present - experienced investors with hedging strategies
Uzbekistan earns an investment score of 45/100, placing it in the caution category for global investors. Significant risks present - experienced investors with hedging strategies. The country's standout dimensions are growth potential (68/100) and economic health (48/100), with overall GDP of $90.4B and per-capita output of $2,520. Growth is running at 5.8% with 3.8% of GDP arriving as foreign direct investment. Inflation is contained at 9.5%. The sovereign holds a NR credit rating, generally considered speculative-grade with elevated default risk. Investment opportunities cluster around Mining (Gold & Copper) (sector score 55/100, currently growing), which represents 8% of GDP. Trade openness sits at 68% of GDP, a useful proxy for how integrated Uzbekistan is with the global economy.
How Uzbekistan's investment score has evolved over time
Mining (Gold & Copper)
8% of GDP, growing
Natural Gas
8% of GDP, stable
Textiles
6% of GDP, growing
Agriculture (Cotton)
12% of GDP, stable
World Bank Governance Indicators (-2.5 to +2.5, higher is better)
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Is Uzbekistan a safe country to invest in?
Uzbekistan carries a caution risk rating with an overall investment score of 45/100. Significant risks present - experienced investors with hedging strategies. Sub-scores: economic health 48/100, political stability 28/100, business climate 48/100, financial strength 45/100, growth potential 68/100.
What is Uzbekistan's sovereign credit rating?
Uzbekistan holds a credit rating of NR, reflecting its ability to meet sovereign debt obligations. Credit ratings are a key signal of macro-financial health and a prerequisite many institutional investors require before allocating capital.
What are the strongest sectors for investment in Uzbekistan?
The top investment sectors in Uzbekistan are Mining (Gold & Copper), Natural Gas, Textiles. Mining (Gold & Copper) leads with a sector score of 55/100 and represents 8% of GDP. Its current trend is growing.
What is Uzbekistan's GDP growth rate?
Uzbekistan's most recent GDP growth was 5.8%, with total GDP of $90.4B and GDP per capita of $2,520. Inflation is running at 9.5% and the current account balance is -5.2% of GDP.
How does Uzbekistan score on governance and rule of law?
On the World Bank Governance Indicators (scale -2.5 to +2.5, higher is better), Uzbekistan scores: political stability -0.7, rule of law -0.9, corruption control -0.8, and regulatory quality -0.4.
Can foreigners invest in Uzbekistan?
Most industries in Uzbekistan are open to foreign direct investment, though specific sectors may require a local partner, government approval, or special licensing. Consult a qualified local advisor for restrictions that apply to your sector.
What is foreign direct investment (FDI) like in Uzbekistan?
Foreign Direct Investment in Uzbekistan runs at 3.8% of GDP, while the trade openness ratio (exports + imports as a share of GDP) stands at 68%. These figures show how integrated Uzbekistan is with the global economy and how welcoming it has been to international capital.
What is the public debt level in Uzbekistan?
Uzbekistan's government debt stands at 39% of GDP. This is a relatively conservative debt load, supporting fiscal flexibility.