Orders totaled $1.4 billion and the final coupon rate was set at 4.85 percent, down from an initial 5.375 percent. Eurobonds were distributed to almost 130 investors from the UK (37 percent), the US (14 percent), Germany (8 percent) and a number of other European (35 percent) and Asian (6 percent) countries.

Uzbekistan's government has placed 5-year government securities on the Republican Currency Exchange (UzRVB) to diversify financial instruments and attract new participants to the financial market, the Finance Ministry said.

Uzbekistan will offer 50 mining and prospective fields to foreign and domestic investors this year “on the basis of open and transparent market mechanisms” in an effort to identify the country’s mineral reserves and raise mining production.

The Central Asian country makes efforts to improve its investment climate after more than two decades of economic isolation that kept foreign private businesses at a distance. President Shavkat Mirziyoyev made the attraction of foreign investors one of the top priorities of his ambitious reform agenda.

Uzbekistan’s state-owned carmaker UzAuto Motors plans to issue $300 million of Eurobonds to tap international financial markets.

Kazakhstan has flooded international TV channels with flashy advertisements trumpeting the country’s investment climate.