Kazakhstan intends to expand international investment cooperation and attract foreign partners to participate in large-scale infrastructure and industrial projects, as stated by Foreign Minister Mukhtar Tileuberdi at a briefing for the diplomatic corps in Astana. The event was dedicated to explaining the key provisions of President Kassym-Jomart Tokayev’s state-of-the-nation address. The Minister of Foreign Affairs noted that the country is interested not only in attracting foreign capital but also in establishing joint ventures, localizing production, and exchanging advanced technologies. Overall, about 6.5 trillion tenge from the National Fund is expected to be allocated to infrastructure modernization by the end of 2029.
«Recognising that partnership must be mutually beneficial, Kazakhstan offers a predictable long-term planning and large-scale contracts under the “People’s Construction” programme, institutional protection for investments, as well as a production and investment platform with access to the markets of the Eurasian continent. Kazakhstan’s ambassadors are instructed to provide targeted, personal support for every investment project – from the first negotiations to its full localisation in Kazakhstan, with monitoring of implementation afterwards,» noted Mukhtar Tileuberdi, Minister of Foreign Affairs of the Republic of Kazakhstan.
Diplomats highlighted the investment appeal of a number of sectors in Kazakhstan, including critical raw materials, manufacturing, and transport. International financial institutions have also expressed their readiness to support the implementation of the objectives outlined in the President’s state-of-the-nation address. This year, the World Bank adopted a new partnership strategy with Kazakhstan. It provides for investment in key sectors of the economy, including energy, digital technologies, and artificial intelligence. Representatives of the organization have already held a series of meetings on facilitating investment initiatives. The World Bank has also reaffirmed its readiness to support Kazakhstan’s economic reforms by providing financing and international expertise.
«One thing that really stood out to me in the state-of-the-nation address was the emphasis on the need not only to use public funds but also to attract more private capital. Mobilizing private capital is a very important factor in achieving all the objectives that have been set. Another equally important point is that it is not just the volume of investment that matters, but also how effective these investments are and to what extent they are channeled into industries and assets that will create new jobs. I believe this is a very important aspect, and I hope that, together with the Government, we will do our part to help ensure it is achieved,» said Andrei Mikhnev, World Bank Country Manager for Kazakhstan and Turkmenistan.
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