The Main Statistical Office of Minsk has published the report “Minsk in Figures” for 2025. One section focuses on foreign investment in the Belarusian capital’s economy. A total of $4.0688 billion in foreign investment was attracted last year.
After declining from $4.50 billion in 2022 to $3.66 billion in 2024, investment partially recovered in 2025, increasing by more than $413.1 million.
Countries of the CIS remain the main source of funds. Their contribution in 2025 reached nearly $3 billion, up from $2.58 billion a year earlier. The bulk of these investments traditionally came from Russia, which accounts for more than 95% of inflows from the region. Russian investment rose to $2.85 billion in 2025.
The contribution of other CIS countries remains significantly lower and volatile. Investment from Kazakhstan increased to $62.3 million after a sharp decline in 2023, while inflows from Armenia rose to $31 million.
Minsk officials continue to classify Ukraine as part of the CIS region, with inflows from the country falling to less than $4 million.
Investment from countries outside the CIS has generally declined compared with 2022, although 2025 saw growth in some направлениях.
The most notable increase came from the United Arab Emirates, with investment rising to $367.9 million — more than four times higher than in 2022.
Cyprus, despite an overall decline in recent years, also recorded growth in 2025, with investment reaching $356.2 million after a drop in 2024.
Investment from China more than doubled compared with the previous year, reaching $104.8 million.
At the same time, inflows from Western countries continued to decrease. Investment from the United States fell to $12.4 million, from Germany to $12.9 million, and from the Netherlands to $10.2 million. Inflows from Austria also declined to $11.2 million.
