ASTANA — President Kassym‑Jomart Tokayev reiterated Kazakhstan’s commitment to being a reliable and reform‑oriented investment destination, while emphasizing growing opportunities across strategic economic sectors and ongoing efforts to build a future‑ready, digitally driven, and sustainable economy during the 37th plenary session of the Foreign Investors’ Council on June 24.
Kassym-Jomart Tokayev. Photo credit: Akorda.
Economic resilience amid global challenges
Tokayev opened the session by acknowledging the complex global economic landscape, marked by slowing GDP growth forecasts, inflationary pressures, and disrupted supply chains, reported Akorda.
“Such trends may further worsen the outlook of the global economy, pointing to the need for constructive international dialogue,” he said.
Despite global challenges, Kazakhstan demonstrated resilience. According to Tokayev, the country’s economy grew by 6% in January-May, driven by transportation, logistics, construction, trade, and both extractive and manufacturing industries.
Strategic reforms and investment climate
According to Tokayev, Kazakhstan’s strategic location, skilled human capital, and firm commitment to reforms offer broad opportunities for both investors and the national economy.
He highlighted the role of the Investment Headquarters, created to resolve investor concerns, which has already facilitated 137 investment projects worth $70 billion and initiated 140 legal amendments.
To protect investor rights, a “prosecutorial filter” was introduced – no government body can initiate checks or file legal claims against investors without approval from the Prosecutor General’s Office.
Digital solutions for investment services
Kazakhstan is streamlining investor services through the new National Digital Investment Platform – a one-stop solution integrating consultations and permit processing.
Tokayev also announced the submission of a new Tax Code to the Senate aimed at boosting private sector activity by offering targeted incentives for local manufacturing and exporters.
“This document provides preferences for investors developing local production, as well as support for exporters of products with significant added value,” he said.
Addressing government officials, business leaders, and international partners, the President reaffirmed the country’s commitment to structural reforms, transparency, and long-term economic sustainability. Photo credit: Akorda.
Growth in industry and raw material processing
The President identified Kazakhstan’s mining industry as a central pillar of its industrial development. He noted the nation’s transparent legislation and growing international participation in geological exploration, citing partnerships with Rio Tinto, Fortescue, Ivanhoe, and others.
“Kazakhstan has formed a stable, investor-friendly jurisdiction with transparent and comprehensive legislation,” Tokayev said.
He announced a new royalty regime in the new Tax Code to stimulate in-country processing of raw materials, positioning Kazakhstan to play a strategic role in the global supply chain of critical minerals.
Tokayev also highlighted industrial advances in railway manufacturing, with companies like Wabtec, Alstom, and Stadler already localizing production.
“Alstom is building service centers and will launch new-generation locomotives by 2028. Wabtec is investing $200 million in alternative-fuel rolling stock, while Stadler Rail built a factory producing 100 passenger cars annually,” he noted.
Agricultural potential and global food security
Kazakhstan ranks sixth globally in agricultural land and is among the world’s top 10 grain exporters. Tokayev pointed to major international companies like PepsiCo and Chinese firms Fufeng Group and Dalian Hesheng, which are introducing modern technologies and securing demand for local products.
Transportation infrastructure
Tokayev reiterated that Kazakhstan is undergoing a major transformation in rail and road infrastructure to reinforce its role as a regional logistics hub.
“By 2029, we plan to modernize 11,000 kilometers of railroads and build 5,000 kilometers of new lines,” Tokayev said.
He announced the early launch of the Dostyk–Moiynty section, which will increase throughput fivefold. Other key corridors under development include Darbaza–Maktaaral, Bakhty–Ayagoz, Moiynty–Kyzylzhar, and Altynkol–Zhetygen.
Road upgrades are also in full swing, with 13,000 kilometers under construction or modernization in 2025 alone.
“In 2024, the length of completed highways increased by 1,600 kilometers, double that of the previous year,” he added.
New terminals at airports in Almaty, Kyzylorda, and Shymkent have also significantly expanded air transport capacity.
Digital transformation and AI ambitions
Kazakhstan ranks among the top 30 globally in digital development, according to the UN. Tokayev shared statistics showing the number of fintech firms quadrupled since 2018, with more than 4,000 companies now registered at the Astana International Financial Centre (AIFC).
“The AIFC ranks first in Eastern Europe and Central Asia in the Global Financial Centres Index and leads the region in green and digital finance,” he said.
Tokayev announced plans for a pilot CryptoCity zone where cryptocurrencies can be used to purchase goods, services and for other purposes. He also underscored the strategic role of artificial intelligence.
“AI is a key driver of future growth, competitiveness, and digital sovereignty for our state,” the President said.
In conclusion, Tokayev expressed confidence that long-term mutually beneficial cooperation between the state and the private sector will play a key role in ensuring sustainable and inclusive economic growth.
