19.02.2026
Uzbekistan has become the country in the Eurasian region where foreign direct investment from Türkiye has grown the fastest. As of the first half of 2025, Türkiye’s accumulated investments in Uzbekistan reached $3.1 billion. Since 2023, investments have increased by $1.2 billion, while the total increase since 2016 amounts to $3 billion. At the beginning of 2016, the volume of Turkish investments was at its lowest level.
The rapid growth in investments became possible due to large-scale economic reforms implemented in Uzbekistan since 2017, aimed at improving the country’s investment attractiveness. Since 2019, capital inflows from Türkiye have steadily increased, making Uzbekistan one of the primary investment destinations for Turkish companies in Eurasia and surpassing Azerbaijan. Türkiye’s largest project in Uzbekistan is a combined-cycle gas power plant under construction in the Jizzakh region. The total investment for the project is expected to reach approximately $500 million.
Azerbaijan also remains one of the key recipients of Turkish investment. One of Türkiye’s largest investment projects in this country and across the Eurasian region is the development of the Shah Deniz gas field in the southern Caspian Sea. Türkiye’s state-owned company TPAO (Türkiye Petrolleri Anonim Ortaklığı) is among the participants in the international consortium developing the field.
A significant share of Turkish investments is also concentrated in Turkmenistan and Kyrgyzstan. In Turkmenistan, a total of $1.1 billion has been invested in two major projects. More than $1 billion of this amount is directed toward the construction of the Turkmenistan–Afghanistan–Pakistan power transmission line. The total cost of the project’s Turkmenistan section is estimated at $1.7 billion.
In Kyrgyzstan, eight investment projects involving Turkish capital are being implemented with a total value of approximately $1 billion. The largest include the construction of the Kyrgyz-Turkish Manas University, financed by the Turkish government with about $398 million, and the Eti Bakır Tereksay gold processing plant valued at $350 million. Overall, the growing investment activity of Türkiye in Central Asian countries demonstrates the deepening of strategic partnerships across Eurasia and the expansion of economic cooperation.
