Tajikistan ranks 9th among eleven post-Soviet countries – Russia, Azerbaijan, Kazakhstan, Armenia, Belarus, Georgia, Uzbekistan, Ukraine, Moldova and Kyrgyzstan — in exporting foreign direct investment (FDI), accounting for only 0.01% of total FDI exports.
Moldova, Kyrgyzstan and Mongolia rank 10th, 11th and 12th, respectively.
According to a report by the Eurasian Development Bank (EDB) on mutual FDI in the region from 2016 through 2024,Tajikistan has just one active project with a budget of US$5 million.
Russia is the absolute leader, responsible for about 83% (over US$38.2 billion) of the region’s total FDI exports.
In terms of importing mutual FDI, Tajikistan reportedly ranks 11th with nine active projects. The country’s share is 1.14%, approximately $524 million, according to the report.
The main recipients of mutual investments are Kazakhstan ($10.4 billion), Uzbekistan ($10.2 billion), and Azerbaijan ($5.8 billion), which together account for nearly 60% of the region’s accumulated FDI as of mid-2024.
Expanded regional coverage
The EDB’s study includes investment projects involving Mongolia, expanding the analysis to 13 countries: Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Mongolia, Russia, Tajikistan, Turkmenistan, Uzbekistan, and Ukraine.
Special attention is given to mutual investments in Central Asia, focusing on the region’s role as both an exporter and recipient of capital.
The total accumulated mutual investment reportedly amounts to US$46.1 billion. Private companies dominate this sector, contributing 68% (or US$31.2 billion).
The Central Asian countries collectively attract more than 50% of mutual investments, amounting to US$23.4 billion.
The Eurasian Development Bank is an international financial institution investing in Eurasia. For more than eighteen years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries – Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. The EDB's charter capital totals US$7 billion. Its portfolio mainly consists of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles. The Eurasian Development Bank has observer status in the UN General Assembly.
