Investment guide Uzbekistan

Uzbekistan, strategically positioned at the centre of the Eurasian continent, functions as a key transit and economic hub in Central Asia. Spanning approximately 448,924 square kilometres and with a population exceeding 37.7 million—comprising over 130 ethnic groups—the country’s geographic and demographic characteristics offer a unique platform for fostering regional connectivity and cross-border trade.

In recent years, the government has advanced a broad reform agenda aimed at improving the investment climate. Notable measures include the liberalization of trade and foreign exchange regimes, reductions in key tax rates—such as value-added tax (VAT), corporate income tax, and property tax—from 20 percent to 12 percent, and the establishment of the Foreign Investors Council to institutionalize dialogue with the private sector. Complementary administrative reforms have streamlined business processes, including the expansion of the “Single Window” mechanism, the elimination of over 500 government functions, and a reduction in customs duties and excise taxes on a wide range of imported goods.

Uzbekistan remains one of the most dynamic economies in the region, registering real GDP growth of 6.5 percent in 2024. The country benefits from favourable demographics, with more than 60 percent of its population under the age of 30 and a labour force totalling approximately 23.2 million. Foreign trade turnover reached $66 billion in 2024, marking a 3.8 percent increase year-on-year.

The economy is underpinned by substantial endowments of natural resources, including significant reserves of natural gas, gold, uranium, copper, and other strategic minerals, which contribute to external stability and long-term investment potential. Uzbekistan also offers a young and increasingly skilled workforce, supported by targeted tax and customs incentives aimed at promoting cost-effective investment and enhancing the country’s trade competitiveness.