BlackRock is showing growing interest in investing in the economies of Kazakhstan and Uzbekistan
Quick Look
- Investment company BlackRock is increasing interest in Kazakhstan and Uzbekistan against the backdrop of economic reforms and GDP growth.
- American investors have already invested about $2 billion in debt instruments of Kazakhstan, and projects in the field of AI and privatization are being discussed in Uzbekistan.
AI-generated summary
Why It Matters
Kazakhstan and Uzbekistan show high economic growth rates in 2026. BlackRock is actively exploring opportunities to invest in the region.
Kazakhstan and Uzbekistan, along with the Gulf countries and India, are attracting increasing interest from US investment firm BlackRock due to economic reforms and growth. Ben Powell, chief investment strategist at the BlackRock Investment Institute (specializing in investment research) in the Asia-Pacific region, spoke about this in an interview with Bloomberg.
Since the beginning of the year, American investors have invested about two billion dollars in Kazakhstan's debt instruments. At the same time, Astana is working on its attractiveness for foreign business as funds become available. “If we see new opportunities, we will be willing to allocate more capital there,” Powell said.
Interest in Kazakhstan is fueled by economic growth of 4.1 percent in the first eight months of 2026 and high global oil prices.
As for Uzbekistan, the economy there grew by 8.5 percent in the first half of the year. In July, BlackRock representatives met with the President of the Republic Shavkat Mirziyoyev to discuss cooperation in the areas of privatization, petrochemical projects and artificial intelligence.
Earlier, Prime Minister of Kyrgyzstan Adylbek Kasymaliev said that in the first eight months of 2026, the Kyrgyz economy grew by 11 percent.
What to Watch
AI outlook — possibilities, not facts
Possible increase in capital inflows into Kazakhstan debt instruments.
Likely · Within months
Open Questions
- What specific volumes of investment are planned in Uzbekistan?
- Will projects in the field of AI be implemented in the near future?
