Russians fleeing the war set a record for investment in Uzbekistan

Russian citizens opened 967 enterprises in Uzbekistan in 2022 – this is a record among foreign companies formed in the country. The data of the State Committee of the Republic on Statistics indicate that the Russians are ahead of the representatives of the states both in this indicator and in the total number of operating companies in the country (3156):

  • representatives of Turkey formed 369 enterprises in 2022, a total of 2,204 firms in the country;
  • Chinese businessmen opened 275 organizations (2,141 in total);
  • citizens of Kazakhstan opened 195 companies (1,258 in total);
  • entrepreneurs from South Korea organized 92 enterprises (930 in total).

For the whole of last year, 190,000 Russians came to the republic. The country’s authorities have developed a number of support programs for foreign businesses. Among them are three-year visas for employees of IT companies.

Earlier, the Georgian authorities announced the benefits for the economy that the Russians fleeing from the mobilization will bring. By the end of October 2010, the amount of receipts from Russia amounted to 40% of the inflow of all funds to Georgia from abroad.

“The average annual economic growth for the first eight months of this year was 10.3 percent. Accordingly, the forecast for economic growth in 2022 has been raised to 10 percent, and the average annual level of economic activity is likely to exceed its potential level. President of the National Bank of Georgia Koba Gvenetadze.

Since the beginning of the war in Ukraine, most of the CIS countries have recorded a sharp increase in remittances from Russia. Russians sent a record $266 million to Armenia in May, more than twice as much as in March. In Kazakhstan, transfers from Russia accounted for 17.8% of transfers in March. In May, their share rose to 66%, while the total volume increased almost tenfold to $94.6 million.

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