According to the National Statistical Committee, investment in fixed capital in Uzbekistan increased by 20.1% compared to the previous year, reaching 584.2 trillion soums for the period from January to September 2026. A large part of these investments was provided by non-state financing, and production accounted for the largest share of capital expenditures.
The total volume of investment over the nine-month period amounted to 584 trillion 154.2 billion soums. Foreign investments and loans reached 33.9 billion US dollars, equivalent to approximately 408 trillion soums, and were directed towards creating new fixed assets.
Financing Structure
Non-state sources provided 518.6 trillion soums, which accounts for 88.8% of the total investment volume. This figure showed an increase of 17.6% compared to the same period in 2025. Centralized investments amounted to 65.6 trillion soums, or 11.2% of the total amount, showing a year-on-year growth of 43.3%.
Of this centralized portion, 25.4 trillion soums came from the state budget, and the Reconstruction and Development Fund contributed 3.9 trillion soums. Additionally, 36.3 trillion soums were received as externally guaranteed state loans.
Among non-state sources, foreign investments and unsecured foreign loans made the largest contribution, totaling 371.7 trillion soums, or 63.6% of all fixed capital investments. Only foreign investments reached 270.6 trillion soums, accounting for 46.3% of the total volume and demonstrating a growth of 21.1% compared to the first nine months of 2025.
Enterprise financing amounted to 67.8 trillion soums (11.6% of the total volume), while household investments reached 71.6 trillion soums (12.3%). Commercial bank loans and other borrowed funds contributed 7.4 trillion soums, corresponding to 1.3% of the total volume.
Geography and Sectoral Structure of Investments
Investment activity was concentrated in Tashkent and several other regions of the country. The largest volume of capital investments was registered in Karakalpakstan at 94.8 trillion soums, followed by the Tashkent region with 61 trillion soums and the Namangan region with 60 trillion soums. The Samarkand region attracted 46.1 trillion soums, and the Fergana region received 46 trillion soums. Investments in the Navoi region reached 37.9 trillion soums, while the Surkhandarya and Bukhara regions received 34.5 trillion soums each.
The Andijan region recorded 33.6 trillion soums, the Kashkadarya region recorded 30.4 trillion soums, the Khorezm region recorded 25.2 trillion soums, and the Republic of Karakalpakstan recorded 22.6 trillion soums. In the Jizzakh region, investments amounted to 21.2 trillion soums, and in the Syrdarya region, they amounted to 19.4 trillion soums.
From the perspective of economic activity, production became the largest recipient of fixed capital investment, attracting 160.8 trillion soums, or 27.5% of the national total. The share of this sector increased by two percentage points compared to January-September 2025. Housing construction was second, receiving 87.1 trillion soums, which accounts for 14.9% of the total volume. Agriculture, forestry, and fisheries attracted 52.1 trillion soums (8.9%), while non-residential construction and infrastructure projects received 51.1 trillion soums (8.8%).
Investments in electricity supply, gas supply, steam, and air conditioning amounted to 39 trillion soums (6.7%). Mining attracted 33.9 trillion soums (5.8%), while transport and warehousing received 27.7 trillion soums (4.7%). Wholesale and retail trade, including vehicle and motorcycle repair, totaled 22.6 trillion soums (3.9%). Education received 12.7 trillion soums (2.2%), and water supply, sewerage, waste collection, and disposal attracted 12.2 trillion soums (2.1%).
Hotel business and food services, as well as information and communication services, received between 9.3 and 9.5 trillion soums. Total investments in healthcare and social services amounted to 7.7 trillion soums, followed by professional, scientific, and technical activities (6.1 trillion soums) and financial and insurance activities (5.4 trillion soums).
Distribution of Foreign Investments
Foreign investments and loans used from January to September 2026 reached 408 trillion soums, equivalent to 33.9 billion US dollars. Production accounted for the largest share of these funds—35.4%, followed by electricity and gas supply (19.7%). Mining and construction received 10.3% of foreign investments and loans each, while transport and warehousing received 8.4%. Agriculture attracted 6%, information and communication services attracted 5%, and water supply and sewerage attracted 2.2%. Healthcare received 1.7%, and other types of economic activities received the remaining 1%.
Regionally, Tashkent recorded the largest volume of foreign investments—47.9 trillion soums. The Namangan region ranked second with 31.7 trillion soums, surpassing the Tashkent region with 30.5 trillion soums, the Fergana region with 29.8 trillion soums, and the Samarkand region with 28.7 trillion soums.
New Housing and Infrastructure
In addition to investment data, the National Statistical Committee presented information on newly commissioned housing and communal infrastructure. In the first nine months of 2026, 12.6 million square meters of individual housing were commissioned in Uzbekistan, which is 13.1% more than in the same period of 2025. Of this total volume, 8.45 million square meters are located in rural areas.
The largest volume of new housing was commissioned in the Tashkent region—1.5 million square meters. The Andijan region followed with 1.26 million square meters, the Bukhara region with 1.25 million square meters, the Namangan region with 1.24 million square meters, and the Fergana region with 1.21 million square meters. The Surkhandarya region commissioned 1.08 million square meters, and the Khorezm region commissioned 1.21 million square meters.
The Jizzakh region added 645.4 thousand square meters, the Navoi region added 603.8 thousand square meters, and the city of Tashkent added 813.8 thousand square meters.
The country also commissioned 1104.6 kilometers of water pipelines during the reporting period. Of these, 1062.6 kilometers, or 96.2%, were built in rural areas. The Samarkand region provided the longest length of new water pipelines—575.1 kilometers. The Republic of Karakalpakstan contributed 198.8 kilometers, the Jizzakh region contributed 167.2 kilometers, the Fergana region contributed 92 kilometers, the Kashkadarya region contributed 45.6 kilometers, and the Andijan region contributed 25.9 kilometers.
Furthermore, from January to September 2026, 11.4 kilometers of gas pipelines were commissioned in Uzbekistan; all new gas pipelines were built in the Fergana region.
The National Statistical Committee clarified that fixed capital investment includes expenses for construction and installation works, the purchase of machinery, equipment, and vehicles, as well as other capital expenditures intended for the creation, expansion, reconstruction, or modernization of fixed assets. The Committee also noted that data for 2025 and earlier years may differ from previously published statistics due to subsequent recalculations.
