Uzbekistan's economy is one of the fastest-growing in Central Asia, with GDP increasing by 7.7% in 2025. By the end of the year, nominal GDP exceeded USD 145 billion, while GDP per capita continues to demonstrate steady growth. Rapid expansion of domestic demand, ongoing urbanization, and favorable demographic trends are shaping a large and expanding consumer market with strong long-term potential.
The labor market demonstrates significant improvement in key indicators. The unemployment rate declined from 10.5% in 2020 to 4.9% in 2025, reflecting rising employment and the expansion of the private sector. Uzbekistan has a young and growing population, providing substantial human capital for industry, agribusiness, services, and emerging technology sectors.
Macroeconomic policy is focused on maintaining stability and predictability. Inflation in 2025 amounted to 7.3%, almost halving compared to 2017 (14.4%), marking the lowest level in the past nine years.
Foreign direct investment is one of the key sources of economic growth. In 2025, total attracted foreign investment exceeded USD 43 billion, compared to USD 34.9 billion in 2024, and more than 17,000 enterprises with foreign capital participation operate in the country. Investor interest is primarily concentrated in renewable energy, mining, infrastructure, industrial manufacturing, and logistics. Improvements in investment legislation, privatization initiatives, and the development of public-private partnerships are creating a more predictable and competitive investment environment.
Uzbekistan's ongoing transformation presents genuine opportunities for foreign investors to expand their presence in the country. Through comprehensive reforms, infrastructure development, and improved governance, Uzbekistan has made significant progress in creating a more business-friendly environment.
The Foreign Investors Council under the President of Uzbekistan was established in 2019 by presidential decree to promote dialogue between the government and major foreign investors. Meeting quarterly, the Council is composed of representatives from international corporations, diplomatic missions, and financial institutions.
Members can discuss and propose changes to laws and regulations. The Council has helped resolve investor disputes, advised on the investment strategy and supported public-private partnership frameworks. It has contributed to improving Uzbekistan's rankings in international business indices and attracting new foreign investment.
