Foreign direct investment (FDI) has become a decisive variable in the economic trajectories of post-Soviet states. Yet the region’s performance is wildly uneven: Kazakhstan’s Astana International Financial Centre channelled USD 3.1 billion in fresh capital in 2024, while sanctions-stricken Belarus saw investor outflows and a technical default on external debt. This article compares state-policy toolkits across seven post-Soviet economies, isolating the measures that either catalyse or repel foreign capital. The analysis finds that transparent incentive regimes, specialised investment hubs, and credible dispute-resolution mechanisms correlate with higher FDI/GDP ratios and lower expropriation risk. Conversely, ad-hoc tax breaks, opaque screening, and politicised courts deter long-term investors. Policy lessons are distilled for governments seeking to balance national interests with global capital flows.

Investment policy, FDI attraction, post-Soviet transition, incentives, investment climate, dispute resolution, sanctions risk, Astana IFC, Kumtor, institutional trust.

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