ASTANA, Kazakhstan, February 20. Kazakhstan plans to attract up to $400 billion in investment into the country’s industrial framework by 2029, Deputy Prime Minister and Minister of National Economy Serik Zhumangarin said at a government meeting, Trend reports via the press service of the Kazakh government.
Zhumangarin explained that, as part of the National Development Plan, the share of investment in the country’s GDP is projected to rise from its current level of 14-15% to 23%. This shift would enable Kazakhstan to increase fixed capital investments by 2.5 times relative to 2024 levels by 2029.
The primary focus of this investment drive will be on expanding key sectors such as metallurgy, petrochemicals, gas production, and pharmaceuticals.
Notably, Zhumangarin emphasized that rather than passively awaiting foreign investment, the state is adopting a proactive economic growth strategy. Under this approach, the government will take the initiative in identifying "investment orders" based on the specific needs of domestic industries and will seek foreign partners possessing the requisite technologies to establish new production facilities.
"The core of this strategy is the transition from a passive model, where the state simply invites investment, to one in which the government actively participates in shaping and launching targeted investment projects. This approach is tailored to meet the concrete needs of various economic sectors. The proposed initiatives will contribute to increasing labor productivity across the country, an essential step for overcoming the middle-income trap and ensuring sustained growth in per capita GDP," Zhumangarin said.
According to the Bureau of National Statistics of Kazakhstan, in January 2026, the volume of investment in fixed capital in the country reached 896 billion tenge ($1.806 billion), marking a 3.4 percent increase in comparable prices compared to the same month in 2025.
The currency conversion is based on the official exchange rate of 1 USD = 496 tenge as of February 16, 2026.