Russia Leads Foreign Investment Inflows into Kazakhstan in 2024

Russia has emerged as the top source of foreign investment in Kazakhstan in 2024, with inflows increasing by over 30% compared to 2023, according to the National Bank of Kazakhstan.

The Republic’s Ambassador to Russia Dauren Abayev called Russia the undisputed leader in terms of the number of enterprises with foreign capital in Kazakhstan, The Caspian Post reports, citing TASS.

In 2024, Russia contributed $4.05 bln, which is 32.4% more than the $3.06 bln received the previous year. Russian investments accounted for 23.6% of the total volume of foreign direct investment in Kazakhstan. As noted by the Kazakh publication Kursiv, this is the highest figure since the National Bank of Kazakhstan began recording statistics in 2005.

The total volume of gross foreign investment inflows into Kazakhstan in 2024 reached $17.2 bln. After Russia, the largest investors in the country were the Netherlands ($3.8 bln), South Korea ($1.22 bln, up from $1.17 bln the previous year), Belgium ($1.2 bln, up from $1 bln), and China ($1.19 bln, down from $2 bln).

There was also a negative value for the gross inflow of foreign direct investment from the United States.