Published
10/01/2025, 08:09In 2024, Kyrgyzstan recorded growth in portfolio investments — the very ‘paper’ capital that comes into the country through shares, bonds and other financial instruments. At the end of the year, their volume reached $76 million, which is more than at the beginning of the year ($70.2 million).
The largest contribution came from the CIS countries — $44.1 million. Kazakhstan was the clear leader here. It accounted for $35.6 million, or almost 81% of all portfolio investments from the CIS and just under half, 47%, of the total volume. This is significantly more than any other country. Russia invested $8.5 million in securities.
Among countries outside the CIS, notable investments came from the United States ($13.9 million), Germany ($11.2 million), a number of international organisations ($4.3 million) and the Netherlands ($1.8 million). However, in terms of scale, they are incomparable with the participation of Kazakhstan's closest neighbours. Thus, it is Kazakhstani investors who play a key role in this market today.
China attracts particular attention. With large-scale direct investments in infrastructure, its portfolio investments in Kyrgyzstan remain symbolic – only $400,000, unchanged over the year. The situation is similar with India, where portfolio investments do not exceed hundreds of thousands of dollars.
