FOREIGN DIRECT INVESTMENT AND FINANCIAL INTEGRATION IN UZBEKISTAN
DOI:
https://doi.org/10.5281/zenodo.17447858Keywords:
Foreign Direct Investment (FDI); Financial Integration; Uzbekistan; Global Financial System; Emerging Economies; Banking Sector Reform; Capital Markets; International Financial Institutions; Currency Liberalization; Economic Growth.Abstract
This paper examines the role of Foreign Direct Investment (FDI) in accelerating Uzbekistan’s integration intothe global fnancial system. It analyzes the main reforms undertaken since currency liberalization in 2017, explores the
relationship between FDI inflows and fnancial sector development, and discusses policy implications for sustainable
integration into international capital markets. The fndings reveal that while Uzbekistan has achieved signifcant progress
in attracting foreign investments, further efforts are required to strengthen institutional frameworks, diversify the
fnancial market, and ensure macroeconomic stability. In addition to presenting statistical evidence, the study develops
a theoretical framework linking FDI to fnancial integration and situates Uzbekistan’s experience within a comparative
regional perspective, with particular reference to Kazakhstan and other Central Asian economies.
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