Kazakh Government Sets Sights on Over $9.4 Billion in New Investments

Kazakh Deputy Prime Minister and Minister of National Economy Serik Zhumangarin has said that the Kazakh government plans to attract more than 5 trillion tenge (over $9.4 billion) in investments.

Zhumangarin made these remarks at a recent government meeting, The Caspian Post informs via Kazakh media.

He emphasized that the focus will be on a new investment cycle, the development of Alatau city, controlling inflation, reducing import dependence, and promoting economic liberalization.

The deputy prime minister outlined the government’s strategy to accelerate economic growth, aiming to double GDP by 2029 through active state participation in stimulating high investment activity.

He identified key sectors with high investment potential, including the automotive industry, railroad rolling stock manufacturing, chemical and petrochemical industries, as well as replenishing the mineral resources base, including rare-earth metals, and processing agro-industrial outputs.

The announcement follows the president’s directive to create an action plan for overhauling the investment attraction system within 10 days, signaling a strong push toward enhancing Kazakhstan’s economic development and global competitiveness.