Foreign investors accounted for every fourth KGS in securities transactions in Kyrgyzstan

The Kyrgyz stock market experienced a significant inflow of foreign capital. In 2024, foreign investors purchased corporate securities from local issuers worth 63.85 billion KGS (approximately $730.6 million at the current exchange rate of the National Bank). A year earlier, this figure was significantly lower — 26.41 billion KGS. The more than 2.4-fold increase was one of the main signs of market recovery.

The bulk of the money came from neighbouring countries — over 97%, or 62.1 billion KGS. Investments from investors from distant countries were much more modest — 1.75 billion KGS.

Interestingly, the picture looked different in the autumn. According to Finnadzor, Israel was the leader in investments for the first nine months of 2024 with 13.5 billion KGS, which accounted for 65% of foreign investments at that time. It was followed by Dubai with 3.7 billion KGS and Bashkortostan with 1.7 billion KGS.

The final figures for the year showed a sharp shift. Almost two-thirds of foreign investment came in the fourth quarter. In three months, 43.01 billion KGS were invested in the market. This suggests a surge in activity by external players at the end of the year.

It should be noted that the total turnover of securities trading in Kyrgyzstan in 2024 amounted to 226.85 billion KGS (+336.4% compared to 2023). At the same time, foreign investors accounted for about 28% of this volume — in fact, every fourth KGS in transactions.