Kazakhstan Reveals Top 10 Foreign Investors of the Last Decade

The top 10 countries that invested the most in Kazakhstan between 2015 and 2024 are the Netherlands, the United States, Switzerland, Russia, China, Belgium, France, South Korea, the United Kingdom, and Türkiye, according to the Kazakh Foreign Ministry.

The largest and most stable growth of foreign direct investment (FDI) during this period was achieved in the mining industry, which attracted $93.3 billion, The Caspian Post reports citing The Astana Times.

The manufacturing sector followed with $41.1 billion, while professional, scientific, and technical activities received $15.3 billion, and the insurance industry - $8.3 billion.

From 2020 to 2024, there was an annual increase in FDI in the wholesale and retail trade and automobile and motorcycle repair sectors, growing from $2.6 billion in 2020 to $5.3 billion in 2024.

Investment in information and communications also showed steady growth, rising from $211.3 million to $571.9 million during the same period. In the manufacturing industry, FDI grew at an average annual rate of 9.4% between 2015 and 2023.

While most countries in the list maintained their positions over the last five years, Türkiye dropped out of the top 10, replaced by Cyprus. In 2024, there was a 55% increase in the gross inflow of FDI from Singapore compared to 2023.

For the first time, Russia took the leading position, contributing $4.1 billion in 2024 - $234.1 million more than the Netherlands, which traditionally held the top spot.

These changes are influenced by trends in the global economic downturn and geopolitical events. According to the UN Conference on Trade and Development, global FDI flows fell by 8% in 2024 to $1.4 trillion, with developing countries in Asia experiencing a 7% decline.