Kazakhstan’s economy grew by 4.2% in the first nine months of this year. Construction, manufacturing, transport and trade were the main contributors, accounting for more than 80% of overall GDP growth. This helped boost business activity across the country. The number of small and medium-sized businesses and self-employed individuals increased by a third to more than 3 million. Meanwhile, the number of entrepreneurs operating under the general tax regime, including VAT payers, rose by 28%. Investment remains another key driver of growth. From January to September, fixed capital investment exceeded 16 trillion tenge, up 7% year-on-year. Private investment rose by 18%.
«According to the
Investment Policy Concept, fixed capital investment is expected to triple over
the next five years. In this regard, efforts must be stepped up to identify and
attract major investors who can bring new technologies, expertise and access to
new markets. The importance of improving the “investment order” mechanism was
also highlighted, with the aim of making it a driver of next-generation,
knowledge-intensive industries that reflect Kazakhstan’s long-term strategic
interests,» said Kazakh Prime Minister Olzhas Bektenov.
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