Atyrau Region is strengthening its position as one of Kazakhstan’s leading investment destinations, with authorities advancing major industrial projects and economic diversification plans aimed at attracting billions of dollars in new investment.

The region’s investment prospects were discussed during a meeting of the Regional Investment Headquarters attended by Deputy Foreign Minister Alibek Kuantyrov. Participants reviewed key projects expected to drive economic growth, create jobs, and expand Atyrau’s industrial base, The Caspian Post reports via Kazinform.

Kuantyrov highlighted Atyrau’s strategic importance to Kazakhstan’s economy, noting that the region accounts for more than 60% of the country’s oil production and nearly 80% of its natural gas output. While energy remains the backbone of the local economy, officials are increasingly focused on developing new growth sectors, including petrochemicals, logistics, manufacturing, and renewable energy.

The discussions also centered on Kazakhstan’s broader economic ambitions, including the government’s goal of expanding the national economy to $450 billion by 2029 and attracting at least $150 billion in foreign direct investment.

Several major investment projects were reviewed during the meeting, including initiatives led by Sillen, KMG PetroChem, Atyrau Carriage Works, Fibratex, and Butadiene. Officials also examined measures to strengthen the region’s tax base by encouraging contractors and subcontractors to register locally.

Special attention was given to the development of the Atyrau Special Economic Zone, with plans to accelerate utility infrastructure construction and streamline regulatory procedures to make the zone more attractive to investors.

During his visit, Kuantyrov toured local industrial enterprises, including Talshykteks LLP and Fibratex LLP, where discussions focused on expanding textile production, increasing value-added processing, and supporting new manufacturing investments.

Currently, Atyrau has assembled an investment portfolio of 60 projects worth more than 7 trillion tenge. Once implemented, the projects are expected to create over 6,000 permanent jobs, boost industrial output, and further diversify the region’s economy beyond its traditional oil and gas sector.