Investing in Uzbekistan

[Marco Van Basten]

Does anyone know of a good way or a good fund manager that invests in Uzbekistan?  Any advice or firms someone would recommend and why?  Thank you.

[Xerxes]

I don’t know about investing in Uzbekistan.
 

But it is on my 2026 travel list as its borders happen to encompass ancient cities of Khiva, Bukhara, Samarkand etc 

[lnofeisone]

I was born and grew up in Uzbekistan (when it was part of USSR and then some time after). Beautiful country and fantastic food. If you are not US-based there was a fund that focused on Asia and that included Uzbekistan. I can try finding it. FWIW I know a couple of lawyers who lost multiple arbitration cases involving Uzbekistan, representing various entities and businesses. The local Uzbek recent immigrant community near me (and some of my childhood friends) have all sold all their apartments/assets in Uzbekistan and are making their life in the US. 

[Marco Van Basten]

1 hour ago, lnofeisone said:

I was born and grew up in Uzbekistan (when it was part of USSR and then some time after). Beautiful country and fantastic food. If you are not US-based there was a fund that focused on Asia and that included Uzbekistan. I can try finding it. FWIW I know a couple of lawyers who lost multiple arbitration cases involving Uzbekistan, representing various entities and businesses. The local Uzbek recent immigrant community near me (and some of my childhood friends) have all sold all their apartments/assets in Uzbekistan and are making their life in the US. 

Thank you, that's good feedback.  I am in the US.  

[thowed]

This is the only one I know.

https://www.asiafrontiercapital.com/afc-funds/afc-uzbekistan-fund.html

 

[Xerxes]

More related to Kazakhstan and greater Central Asia and not specifically Uzbekistan. 
 

It trades on NYSE. 
 

I recall at least two podcast on the topic. 
 

https://podcasts.apple.com/ca/podcast/kaspi-the-super-app-reshaping-kazakhstans-financial/id1662672593?i=1000651167696

 

https://podcasts.apple.com/ca/podcast/business-breakdowns/id1559120677?i=1000684967820

 

https://podcasts.apple.com/ca/podcast/fintech-leaders/id1579999679?i=1000659351105

 

[Marco Van Basten]

@Xerxes, thank you.  I looked at Kaspi, but passed.