Published
07/18/2025, 15:01In 2024, Kyrgyzstan invested more than $20.2 million in the economies of the EAEU countries, with almost all of this flow going to Kazakhstan. Kyrgyz entrepreneurs invested $19.9 million there.
The main instrument of mutual investment in the EAEU remains investments in the capital of companies and shares of funds.
Over the past three years, Kyrgyz businesses have significantly increased their investments in Kazakhstan, from minus $9.3 million in 2022 to $18.4 million in 2023. Thus, Kyrgyzstan is currently the second largest investor in Kazakhstan among the EAEU countries after Russia, which has invested $1.72 billion. Meanwhile, Armenia showed a negative result of minus $1.8 million, and Belarus withdrew $65.5 million from Kazakhstan altogether.
In addition to its neighbour, Kyrgyzstan invested $300,000 in Belarus. The situation with Russia turned into an outflow for Kyrgyz businessmen, with a loss of $900,000, which may indicate both capital withdrawal and investment losses.
Kyrgyzstan, in turn, attracts money primarily from Russia ($161.9 million) and Kazakhstan ($100.8 million). Belarus limited itself to a modest $900,000, while Armenia, like Kyrgyzstan towards it, did not invest at all.
In total, mutual direct investment in the EAEU amounted to $2.39 billion at the end of 2024. Almost 70% of this came from Kazakhstan. The inflow of investments into Kyrgyzstan grew by 43% compared to last year, and in Belarus by 9%. Kazakhstan, on the other hand, showed a decline of 8%. Armenia continues to lose its previously received investments.
