Central Asia has enjoyed relative stability over the past quarter century. Yet, there is an uncertainty when it comes to the future of the region. Throughout the years of independence, governments, to a different extent, have undergone political, economic and social transformations and did not collapse under the pressure of both internal and external risks. Moreover, insecurity in Afghanistan, which is jeopardizing the stability in Central Asia, has not been resolved yet, despite tremendous efforts by the international community. This study aims to: (a) analyze states’ as well as non-governmental actors’ capability to respond effectively and timely to the existing and emerging security threats in the region; (b) evaluate economic development opportunities and challenges preventing relevant actors from realizing them; (c) study competing interests of the greater powers for the influence in the region.