ASTANA, Kazakhstan, February 10. As of today, Kazakhstan's accumulated direct foreign investments since 2022 have exceeded $84 billion, with investments in fixed capital rising by almost 50%, said President Kassym-Jomart Tokayev at a Government meeting, Trend reports via the presidential press service.
Tokayev underscored the critical significance of initiating a fresh investment phase. He observed that at this moment, the investment landscape is favorable. Nonetheless, he highlighted that even with the uptick in foreign direct investment inflows last year, the rate of attraction is still lacking. To tackle this issue, it is essential to establish an environment conducive to drawing in private investment.
“We need a comprehensive strategy to attract new, high-quality investments to create modern, high-tech production. The private business sector plays a crucial role in this, as it is the main source of quality investment, job creation, and growth in citizens' incomes,” Tokayev stated.
He also pointed out that as inflation levels off and begins to drop, the focus should turn to bolstering market fundamentals. Development institutions should establish effective partnerships with businesses and the financial sector based on mutual cooperation rather than competition.
“There are several investment-attractive sectors, the development of which should rely on constructive cooperation between the government and businesses. These include rare-earth metals, oil and gas chemistry, digital infrastructure, renewable energy, transport, and agro-processing. For example, as technological development accelerates, the demand for critical materials sharply increases. Investors from Western and other developed countries are showing high interest in such projects in Kazakhstan. This is our global competitive advantage, which we must use effectively for the benefit of the country,” the president added.
Regarding the major investing nations, the Netherlands, the United States, Switzerland, Russia, and China are the largest foreign investors in Kazakhstan, primarily focusing on energy, mining, and transportation sectors. In 2024, Russia became the largest investor with $4 billion, while total foreign direct investment (FDI) exceeded $17 billion. The Netherlands and the U.S. follow as major investors, particularly in energy and oil and gas.
Key investment sectors include energy and mining, receiving $6.5 billion in 2024, transport and warehousing, and a growing manufacturing sector.
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