Turkey and the Netherlands have become Bishkek’s largest investors amongst non-CIS countries

In the first quarter of 2026, Bishkek attracted $70.9 million in foreign direct investment from countries outside the CIS. Turkey and the Netherlands accounted for almost three-quarters of this amount. Jordan, China and Switzerland were also among the top five investors.

According to data from the National Statistics Office, the total inflow of foreign direct investment, excluding outflows to the capital, amounted to $115.88 million, compared with $161.61 million a year earlier. Thus, the volume of investment fell by 28.3 per cent.

Countries outside the CIS accounted for more than 60 per cent of the investment received. However, their total investment also fell, from $90.69 million in the first quarter of 2025 to $70.9 million in January–March 2026, a decrease of 21.8 per cent.

Turkey became Bishkek’s largest foreign investor. Over the three-month period, Turkish businesses invested $35.51 million in the capital’s economy, predominantly in the manufacturing sector. This accounts for 30.7 per cent of all foreign investment and approximately half of the inflows from countries outside the CIS.

However, compared with the first quarter of last year, Turkish investment fell by almost 8 per cent; at that time, the volume stood at $38.59 million.

The Netherlands ranked second among investors from outside the CIS, with $16.63 million. A year earlier, the volume of investment stood at $27.31 million, meaning the figure fell by 39.1 per cent over the year.

Together, Turkey and the Netherlands accounted for $52.14 million, or 73.5 per cent, of the investment flowing into Bishkek from countries outside the CIS.

Jordan took third place, investing $4.02 million. This is 81 per cent more than the previous year, when inflows totalled $2.22 million. The bulk of Jordanian investment is directed towards the information and communications sector.

China followed with $4 million. Compared with the first quarter of 2025, Chinese investment increased by more than 2.2 times – from $1.82 million. Investment was mainly channelled into wholesale and retail trade, as well as the car and motorbike repair sector.

Switzerland rounds off the top five with $2.86 million. Over the year, the volume of Swiss investment grew by 5.8 per cent. The main sectors were the hotel and restaurant industries.

Collectively, the five largest investors from non-CIS countries invested $63.02 million in Bishkek. This accounts for almost 89 per cent of the total investment inflow from this group of countries.

Canada stands out in particular, taking sixth place. Its investments rose from $6,500 to $1.29 million — an increase of almost 198-fold. Canadian funds were predominantly channelled into financial intermediation and insurance.