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Investment from CIS countries has grown almost fivefold over the past four years

Published

12/26/2025, 14:07

Investment from CIS countries has grown almost fivefold over the past four years

In 2024, foreign direct investment flows showed a clear shift towards CIS countries. Their share grew to 42.8% of the total, compared to 33% a year earlier. For comparison, in 2020, the CIS accounted for only 9.3%. This is evidenced by the latest data from the National Statistics Committee.

Russia became the key source. Its share grew from 18.9% to 27.1% over the year. Kazakhstan, on the contrary, slightly lost ground: from 12.0% to 11%. Azerbaijan and Uzbekistan remained niche investors, with their contributions not exceeding 2.6% and 1.9%, respectively.

The growth in investment from the CIS is occurring against the backdrop of a decline in the share of investment from countries outside the Commonwealth. While in 2020 they accounted for more than 90% of the inflow, in 2024 this figure will be 57.2%. The geography is shrinking, with capital choosing familiar markets and short logistics.

 

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