Advancing Security and Transparency for the Governance of Critical Raw Materials in Central Asia (2026)
Central Asia holds vast reserves of critical raw materials (CRMs) such as copper, antimony, titanium, molybdenum and other rare metals. As global demand for these commodities rises to support the green transition, the region could play an important role in future supply chains. Central Asian governments see CRMs as a new growth and diversification engine, not only in extraction but increasingly in processing and related value-chain activities, and have started adopting responsible business conduct (RBC) practices as well as legal frameworks to enhance environmental risk management. Yet investment has remained limited due in large part to outdated geological data, regulatory challenges, and the dominant role of state owned enterprises in mining. This report shows how Central Asian governments can make the sector more attractive to investors and ensure its development as a source of jobs and prosperity for their citizens by improving transparency, strengthening due diligence and labour rights, and increasing the participation of women and local communities in mining projects. It also offers options to better manage environmental risks and curb revenue losses linked to Base Erosion and Profit Shifting (BEPS) by large corporates. The report is aimed at policymakers, investors, and development partners seeking to support Central Asia’s transition toward a more resilient, inclusive, and responsible mining sector.
Regional Note on Critical Minerals in Central Asia (2026)
Critical raw materials (CRMs) are essential to the green and digital transitions, underpinning industries such as renewable energy, defence, healthcare and advanced manufacturing. As global demand is expected to increase several-fold by 2050, securing diversified and resilient supply chains has become a strategic priority. Central Asia is well positioned to play a larger role, thanks to its significant mineral resources, strategic location between Europe and Asia, and growing efforts to attract investment. The region holds substantial reserves of uranium, copper, antimony and other critical minerals, while existing mining operations and legacy waste sites offer opportunities to recover additional CRMs. However, unlocking this potential requires addressing governance, environmental and social challenges, reducing fiscal risks, and strengthening frameworks for responsible business conduct, environmental management and sustainable investment.
Enhancing the Competitiveness of the Trans-Caspian Transport Corridor in Central Asia (2025)
This OECD publication provides fresh analysis of regional integration with an in depth look at the development of trade and transport connectivity in Central Asia in the context of the region’s efforts to diversify production, employment and exports and to increase freight traffic along the Trans-Caspian Transport Corridor (TCTC). The TCTC has gained increasing attention as governments seek to expand connections to European and global markets. Governments are accelerating infrastructure development and regional dialogue has served to resolve remaining border disputes. They have also made significant progress in digitalising customs procedures and border controls. Nevertheless, persistent challenges remain. The report identifies options for further improving trade facilitation reforms in a co-ordinated way, and it addresses such challenges as widespread informal fees, warehousing capacity bottlenecks, and limited private investment, all of which continue to constrain the corridor’s potential. Longer term risks, such as the declining level of the Caspian Sea, also weigh on its outlook. Drawing on more than 150 interviews with businesses across the region, as well as extensive discussions with policy-makers and other officials, this report offers an updated overview of the Corridor’s development and the remaining bottlenecks, providing targeted policy recommendations for each country of Central Asia.
Building a Competitive Investment Landscape in Turkmenistan (2025)
Turkmenistan aims to attract greater levels of foreign direct investment (FDI), especially outside the hydrocarbon sector, as a foundation for long-term and sustainable growth. This report offers a fresh look at the country’s investment environment, highlighting opportunities and challenges for businesses and investors. It examines recent trade performance and the broader business climate, including regulatory and labour-market challenges. Drawing on a private sector survey of firms, interviews with government officials development partners, and data from government and other sources, the report offers unique insights into Turkmenistan’s business environment and investment landscape. It also suggests investment promotion and facilitation tools that the government could develop, including the creation of a dedicated Investment Promotion Agency (IPA) to streamline support for investors. Drawing on the perspectives of both domestic and foreign stakeholders, as well as a broad range of international experience, this publication will be of interest to policy-makers, international organisations, researchers, and private sector actors seeking to understand — and engage with — Turkmenistan’s investment future.
Diversifying Kazakhstan’s Exports: Institutions, Policies, Infrastructure (2024)
Despite remarkable resilience to recent economic shocks, Kazakhstan faces a connectivity challenge. Its trade integration is limited by low density of settlement and economic activity, infrastructure and trade facilitation bottlenecks, and long distances to major markets; and its economy still depends on a limited number of export commodities and a narrow range of trading partners. The report complements recent OECD work on trade connectivity in Central Asia, by focusing on practical aspects of export diversification agreed upon in collaboration with the government of Kazakhstan: (i) how to develop export promotion policies for SMEs; (ii) how to design a one-stop shop for exporting SMEs; and (iii) how to improve cross-border co-operation in Kazakhstan’s Caspian Sea ports.
Improving the Legal Environment for Business and Investment in Central Asia – Progress Report (2023)
While Central Asia has proven relatively resilient to the shocks of COVID-19, China’s slowdown and Russia’s war in Ukraine, declining trend rates of growth across the region, lacklustre productivity performance and lingering global uncertainty underscore the need to address weaknesses in the business and investment climate. The implementation of predictable rules, the creation of a level-playing field between firms and greater competition in markets, in particular, could encourage both local entrepreneurs and foreign investors to invest and grow in the region. This report presents an assessment of progress since the 2019-2020 analysis of the legal environment for business and investment in Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan against the backdrop of the changing international context brought about by COVID and the war.
Trade Facilitation in Central Asia (2023)
Central Asia’s trade performance has displayed remarkable resilience to recent economic shocks. Nevertheless, the region’s dependence on a limited number of export commodities and a narrow range of trading partners exposes it to significant risks. Central Asian governments are therefore prioritising improved connectivity to integrate better into global value chains, reduce geographical disadvantages, and increase imports and exports. Trade facilitation plays a pivotal role in achieving these goals by reducing trade costs and fostering integration. However, Central Asia still faces substantial challenges, and, despite significant improvements in recent years, it falls behind most of the regions covered by the OECD’s Trade Facilitation Indicators (TFI). This report takes stock of TFI progress in Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan, presents preliminary results for Turkmenistan for the first time, and showcases areas of TFI improvement. It also evaluates remaining trade barriers and provides recommendations to for trade facilitation reforms, including the need to prioritise trade community feedback to streamline procedures, digitalise and harmonise standards, and implement systemic border agency co-operation mechanisms. A co-ordinated approach to improving trade facilitation across the region could reduce trade costs substantially, lifting both trade turnover and growth.
Realising the Potential of the Middle Corridor (2023)
Russia’s full-scale invasion of Ukraine and the ensuing sanctions greatly complicated overland freight transport between Europe and China via the so-called Northern Corridor, which runs through the Russian Federation. This has prompted renewed attention to the development of the Trans-Caspian International Transport Route, a multimodal route running through Kazakhstan, Azerbaijan, Georgia, and Türkiye – the so-called “Middle Corridor”. The present report looks at the Middle Corridor’s potential and at the challenges that must be overcome to realise it, drawing on the perspective of relevant private-sector actors in the four Middle Corridor countries. Governments along the corridor have invested heavily to improve transport infrastructure, yet important bottlenecks remain due to the geography of the route, the number of border crossings and the lack of regional trade integration. This study, based on surveys from and interviews with the private sector, maps and sequences main reform priorities in relation to regional integration, infrastructure, trade facilitation and supra-national coordination. It suggests that the primary aim should be to develop the corridor not solely as a transit route for actors from outside the region but as an engine of integration and trade integration in Central Asia and the South Caucasus.
Private Sector Digitalisation in Central Asia (2023)
Making SMEs ready for the new digital economy is an opportunity for Central Asian governments. Policies can play a pivotal role in allowing SMEs in Central Asia to benefit from the digital transition, in turn impacting productivity and employment of the business sector. But “one-size-fits-all” approaches to policy making in this area are not suggested; SMEs across sectors and sizes can leverage digital technologies, but they can do so according to their level of digital maturity and ambition. Based on latest available data, this background note makes an assessment of private-sector digitalisation in Central Asia, reviews current policies and strategies in place to support SME digital development, and provides policy recommendations to support the governments of the region going forward.
Insights on the Business Climate in Kazakhstan (2023)
The global push for more sustainable and less‑carbon intensive economic models has increased the salience of Kazakhstan’s long‑standing diversification agenda. That this agenda remains only partially fulfilled reflects a number of issues that affect the conditions for investment, innovation and entrepreneurship. Elaborating on feedback garnered through a small, focused survey of foreign firms in Kazakhstan, this report provides new insights into private‑sector perceptions of the ongoing reform process and in doing so draws attention to some of the most pressing issues facing policymakers and business.
Insights on the Business Climate in Uzbekistan (2023)
Addressing barriers to private‑sector development has been a long‑standing ambition of the government of Uzbekistan, with an extensive programme of reforms that began in 2017 redoubling efforts to foster the growth of a more competitive and productive population of private‑sector firms. Uzbekistan needs a more dynamic and innovative private sector if it is to meet the challenges and seize the opportunities of the green and digital transitions, which create a new impetus for accelerating these reforms. Elaborating on feedback garnered through a small, focused survey of foreign firms in Uzbekistan, this report provides new insights into their perceptions of the ongoing reform process and in doing so draws attention to some of the most pressing issues facing policymakers and business.
Improving Framework Conditions for the Digital Transformation of Businesses in Kazakhstan (2023)
In recent years, Kazakhstan has developed a comprehensive digital government system and begun to create the legal and regulatory conditions for the digital transformation of the country’s economy. The digitalisation of the private sector requires further improvements in framework conditions, such as reliable access to broadband services, quality and affordability of networks, and digital security for businesses. Based on recent OECD work on digital framework conditions, this report examines the legal and operational environment that is holding back the digital transformation of private firms in Kazakhstan. The report suggests three sets of actions: (1) addressing the remaining Internet quality and connectivity gaps, notably by mobilising the regional public sector to improve the quality and density of networks, and by expanding the inclusion of the private sector in the policy‑making process; (2) improving competition in, and the investment attractiveness of, the telecom sector by setting‑up an independent national telecom regulator, and by developing a targeted investment attraction strategy to prepare for deployment of next‑generation communication networks; and (3) adapting the regulatory and policy framework for firms adapting to new digital challenges and raising their awareness of digital security.
Digital Skills for Private Sector Competitiveness in Uzbekistan (2023)
Since 2019, digital transformation has been a clear policy priority in Uzbekistan. While the country has made significant progress in terms of Internet access, quality and affordability, digital uptake among firms remains low. This lack of digital skills seems to be a limiting factor affecting the digital transformation of business. Based on recent OECD work on digitalisation, this report examines what is holding back the digital upskilling of businesses in Uzbekistan. It suggests three sets of policy actions: (1) developing a supportive institutional framework for the digital uptake of firms; (2) raising firms’ awareness of the importance of acquiring digital and complementary skills; and (3) expanding existing support to digitalise while addressing the gender digital divide.
Weathering the Economic Storms in Central Asia (2022)
Russia’s war against Ukraine and the international sanctions introduced against the former have had an unexpectedly mild impact on Central Asia, despite the region’s deep economic dependence on its northern neighbour. Notwithstanding high inflation, the five Central Asian states – Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan and Uzbekistan – have so far shown surprising resilience to the economic headwinds: remittances registered record-high figures in the first half of 2022, national currencies quickly rebounded to pre-war levels after an initial drop, and an influx of skilled workers boosted demand for services and hospitality. However, as the medium-term effects of the sanctions against Russia, the global cost-of-living crisis, and China’s economic slowdown start to unfold, Central Asia is faced with lingering uncertainty. This publication provides an assessment of the short-term effects of Russia’s war on Central Asian economies and the policy responses provided. It also analyses the challenges ahead and formulates policy recommendations to make Central Asian economies more resilient and diversified.
Improving the Legal Environment for Business and Investment in Central Asia (2022)
Weaknesses in the framework conditions for private sector development and foreign direct investment have contributed to over-reliance of Central Asian economies on a narrow range of often volatile drivers for growth, principally the export of commodities and labour. Despite recent reforms by governments across the region – such as streamlining legislation or introducing new digitalisation programmes – the business environment in Central Asia remains challenging. Even where formal settings have improved considerably, uneven implementation and enforcement, as well as frequent policy changes, create a significant gap between de jure protections and the de facto operational environment for firms. The COVID-19 pandemic has exacerbated this problem and reinforced the need to address long-standing barriers to business development that could help the region transition to a more dynamic, private sector-driven growth model.
Enhancing Investment Promotion in Tajikistan (2022)
Tajikistan has identified Foreign Direct Investment (FDI) attraction as a critical component of its national development strategy, which could contribute to the achievement of several policy goals, including private sector growth, job creation, and economic diversification. As the COVID-19 pandemic has increased competition for FDI, the role of investment promotion agencies (IPAs) is growing around the world. Investment promotion and facilitation work carried out by a dedicated investment promotion agency can help attract FDI, when underpinned by measures to improve the overall investment framework.
‘Boosting the Internationalisation of Firm through better Export Promotion Policies in Uzbekistan’ (2022)
This report assesses progress in the implementation of export-promotion initiatives since the 2017 OECD peer review of SME export promotion and takes stock of the disruptions brought by the COVID-19 pandemic to identify new challenges and priorities. The note suggests three sets of actions for the government to boost the internationalisation of firms: (1) further development of consulting activities to improve firms’ knowledge of foreign markets; (2) expansion of the export-promotion network abroad and the definition of a clear value proposition in target export markets; and (3) putting in place more systematic arrangements for monitoring and evaluation of export-promotion institutions’ activities.
‘Beyond COVID-19: Prospects for Economic Recovery in Central Asia‘ (2021)
Reflecting upon a number of long-standing structural issues in the region, as well as a range of phenomena and processes in the global economy, the report offers some initial guidance for a roadmap to build back better. At the heart of it is the need to ensure that the region’s private sector can make a bigger contribution to growth and job creation, and that its economic growth can be more sustainable and inclusive as a result.
‘Informality and COVID-19 in Eurasia: The sudden loss of a social buffer’ (2021)
COVID-19 has triggered an economic and public health crisis that has profoundly affected informal firms and employment in the Eastern Partner region, Central Asia, Afghanistan and Mongolia, where they have historically represented a large portion of economic activity. This note looks at the effects of the pandemic on informal workers and firms and discusses challenges that it has raised, including short- and long-term policy recommendations to ensure a sustainable and inclusive recovery for all.
‘Improving the Legal Environment for Business in Central Asia’ (2021)
This report discusses ways to improve the legal and regulatory frameworks for business and investment in Central Asia. It finds that whilst much progress has been made in a number of areas, efforts have largely focused on the “low hanging fruit” of reform: reforms whose transaction costs are minimal but which, on their own, are insufficient to substantially improve the business climate
‘Gender Gaps in Eurasia: The Daunting Effects of COVID-19’ (2021)
The report summarises the analysis of gender-specific obstacles that women in Eurasia face as a result of the COVID-19 pandemic, ranging from wage and employment disparities to domestic violence and healthcare access issues. It suggests five sets of actions to ensure a sustainable and inclusive recovery for all: (1) measures to enhance women’s access to public health coverage; (2) steps to protect women’s integrity and reduce domestic violence; (3) measures to support women’s economic empowerment; (4) steps to enhance women’s influence in the public sphere; and (5) tools to enhance the quality of gender decision-making in government.
‘Monitoring Competitiveness Reforms: Access to Finance for Firms in Mongolia’ OECD publication’ (2020)
In September 2020, the OECD, together with the EU and the government of Mongolia, discussed the challenges of access to finance for SMEs in Mongolia. This report summarises the OECD analysis, highlighting that strengthening SMEs remains a policy priority, as as their growth can contribute to the diversification of employment and exports, and therefore reduce dependence on extractive sectors. Access to finance in particular hinders firm growth, despite the development of several public financial instruments. The recommendations of the report address these remaining hurdles.
Supporting Firm Creation and Growth through Business Development Services in Kyrgyzstan (2020)
National governments working to support firms facing the COVID-19 crisis have strong incentives to support entrepreneurship and private-sector development. As they struggle to survive the crisis, entrepreneurs and SMEs need accessible and high-quality public services. In addition to improving delivery of public services to firms, governments can help stimulate the market for private business services, such as business advisory or training. This Policy Insight discusses the hurdles firms in Kyrgyzstan face in accessing public and private business development services (BDS). The report suggests three sets of actions to the government: (1) offering streamlined government to business services in physical and digital one-stop shops; (2) supporting greater uptake of private business services; and (3) working with other relevant actors, such as business associations and the development community to build a stronger BDS market, which can ultimately foster much needed business development.
Brochure on the new phase of Central Asia Invest (2020)
This brochure was published in 2020 and provides an overview of the programme and the activities funded.
‘Enhancing Competitiveness in Central Asia’ (2018)
During the previous phase of the OECD Policy Component, the report “Enhancing Competitiveness in Central Asia” was published. It highlighted the risks inherent in Central Asian countries’ reliance on minerals exports and remittances, as well as the challenges to be overcome to achieve more stable and inclusive growth. OECD work showed that ambitious reforms in three areas: governance, connectivity, and business environment are required to enhance the competitiveness of their economies, diversify the production structures and improve the resilience to external shocks. The report also summarises OECD work with Central Asian countries on access to finance, business internationalisation and skills development that are the result of country-specific projects carried out by the OECD, hand-in-hand with the governments of Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan, Uzbekistan.