Central Asia is a rapidly developing region where economic centers play a key role in attracting investment, developing trade, and modernizing infrastructure. This article looks at the leading cities that shape the economic landscape of the region.
Almaty — the financial heart of Kazakhstan
Almaty is the largest city in Kazakhstan, with a population of over 2 million people. It remains the country's leading financial center, home to the largest banks, insurance companies, and stock exchanges. The Kazakhstan Stock Exchange is based here, along with the headquarters of international corporations. The city contributes about 20 percent of Kazakhstan’s GDP, actively develops its startup ecosystem, and attracts foreign investment in IT and innovation sectors.
Astana — a modern business hub
Kazakhstan’s capital has transformed over the past 20 years into one of the region's most modern cities. Astana is a key administrative and financial center, hosting the International Financial Center “Astana,” which attracts investors from Europe, Asia, and the Middle East. The city's GDP is steadily growing, and in the last five years, the volume of attracted investments has exceeded 10 billion dollars. Key sectors include construction, logistics, and international trade.
Tashkent — the industrial and technological center of Uzbekistan
Tashkent, with a population of over 3 million, is Uzbekistan’s largest economic hub. The city is a major center for machine engineering, chemical and textile industries, and the IT sector. In 2024, foreign investments in Uzbekistan’s economy exceeded 24 billion dollars, with Tashkent attracting over 8 billion dollars. The export of goods from Uzbekistan via Tashkent continues to grow annually, especially in the agro-industrial complex and metallurgy sectors.
Bishkek — a trade and logistics hub
Bishkek, the capital of Kyrgyzstan, plays an important role in regional trade. Due to its proximity to China and access to the markets of the Eurasian Economic Union, the city has become a center for the import and re-export of goods. The main sectors of the economy include light industry, food production, and logistics. In 2024, over 230 million dollars were invested in Bishkek’s economy, with most of the investment directed towards construction and trade.
Dushanbe — the energy and industrial center of Tajikistan
Dushanbe is the largest industrial and energy center of Tajikistan. The city is key for aluminum production, textiles, and agricultural products. It houses the largest hydroelectric complex in the country, which supplies more than 90 percent of the city’s electricity. The active development of infrastructure continues to attract international partners, and investment in Dushanbe’s economy continues to grow.
Ashgabat — the energy capital of Turkmenistan
Ashgabat remains the main center of Turkmenistan’s gas industry. The country holds the world’s fifth-largest natural gas reserves, and most of the extraction is controlled from the capital. The city is actively developing export routes, especially to China and Iran. In recent years, significant investments have been directed towards the construction and modernization of gas pipelines, such as the transnational Turkmenistan-China pipeline.