The paper aims to explore and analyze the factors affecting foreign direct investments in Uzbekistan’s energy sector. This includes an analysis of how regulatory quality, infrastructure development, economic conditions, and political stability impact investments in Uzbekistan. The paper employs a quantitative method of inquiry. Primary data collection was conducted by surveying 120 individuals from a variety of professions, including those in Uzbekistan’s energy sector, government officials, and international investment experts. Multiple regression analysis and Pearson correlation tests were conducted on primary data collected using a survey instrument validated by Cronbach’s alpha coefficient. The analysis revealed that regulatory quality (β = 0.463, p < 0.001) and infrastructure development (β = 0.341, p < 0.001) are the most influential factors in Uzbekistan. GDP growth and political stability also demonstrate a high level of influence. The model explained 68.1% of the variation in FDI inflows (R² = 0.681). The paper suggests that Uzbekistan should reform regulations and develop infrastructure to establish an investment-friendly climate to attract more foreign investments in Uzbekistan’s energy sector, particularly in renewable and conventional energy projects.Foreign investments in Uzbekistan’s energy sector will improve the standard of living in rural Uzbekistan. The paper is based on a single country case. The analysis of primary data collected by survey instruments may not be representative of all of Uzbekistan. Inferences should be treated cautiously. This paper appears to be one of the first quantitative studies of multiple factors affecting foreign direct investments in Uzbekistan’s post-reform energy sector. This paper contributes to an emerging body of literature on Uzbekistan’s investment climate.
Publication Date: 2026-06-23