In January–March, Uzbek residents made $153.1 million in direct investments into foreign assets. That is 33 times higher than the figure for the same period last year ($4.7 million). This historic surge follows the government's decision to abolish, effective January 1, 2026, the requirement for Uzbek residents to obtain government permission before investing in the United States.
In the first quarter of 2026, direct investments by Uzbek residents into foreign assets totaled $153.1 million.
For comparison, this figure stood at $3.5 million and $4.7 million in the first quarters of 2024 and 2025, respectively.
This data comes from the balance of payments report published by the Central Bank.
The report also notes that foreign direct investment into Uzbekistan from non-residents totaled $702 million in the first quarter. That is lower than the $761.7 million recorded in the same period of 2025, but higher than the $380.1 million seen in the first quarter of 2024.
Expanded freedom to invest abroad
Under a presidential decree dated November 11, 2025, "On establishing the America–Uzbekistan Business and Investment Council," and a Central Bank resolution dated December 16, the requirement for Uzbek residents to obtain government permission to invest in US-based companies was abolished as of January 1, 2026.
Previously, a permit had been required for any investment transaction exceeding $10,000 in value.
As of January 1, 2026, Uzbek residents gained the following options for investment activity in the US:
- transferring funds to the US to establish a company (forming charter capital) or to purchase shares or stakes in an American company;
- directing funds toward replenishing the working capital of their own branches in the US;
- doing so in any amount, drawing on their own funds held in accounts.
These freedoms initially applied only to investment activity in the US. However, under a Central Bank resolution dated June 2, opportunities for Uzbek citizens to invest in other countries were also expanded.
Under the resolution, which takes effect on September 17, 2026, individuals will be able to carry out investment activity abroad — that is, forming the charter capital of foreign enterprises or acquiring an equity stake (buying company shares) — without obtaining separate permission, provided the amount does not exceed the equivalent of $10,000 per calendar year.
Enterprises without state ownership will be permitted to carry out investment activity abroad up to the equivalent of $200,000 per calendar year (or $100,000 for enterprises with state ownership). This covers forming the charter capital of foreign enterprises or acquiring an equity stake, as well as setting up branches, representative offices, and trading houses abroad.
Enterprises without state ownership will also be entitled to replenish the working capital of their own foreign branches and representative offices up to the equivalent of $100,000 (or $50,000 for enterprises with state ownership).
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