Despite global economic headwinds and ongoing conflict in the Middle East, Kazakhstan is doubling down on its efforts to deepen commercial ties with the United States, an ambition on full display at this year’s SelectUSA Investment Summit in National Harbor, Maryland, near Washington, D.C.
The annual forum, organized by the U.S. Department of Commerce, serves as the U.S. government’s flagship platform for attracting foreign direct investment. While SelectUSA is designed to attract foreign direct investment into the United States, Kazakhstan’s presence also reflects a broader shift: Kazakhstani companies are increasingly looking for ways to enter and scale in the U.S. market.
Magzhan Ilyassov, Ambassador of Kazakhstan to the U.S. – image: TCA
“Kazakhstan views the United States not only as a strategic partner, but as an emerging priority destination for long-term investment and technological collaboration,” said Magzhan Ilyassov, Kazakhstan’s ambassador to the United States. “One of our missions is to facilitate collaboration for Kazakh companies to enter the American market while strengthening bilateral trade and innovation ties.”
That vision is being driven in large part by Kazakhstan’s private sector. “We already have a significant number of companies operating in the U.S. market, including in fintech and construction,” said Timur Turlov, founder and CEO of Freedom Holding Corp. “We have learned how to meet international standards, and the products being developed within our ecosystems today are becoming truly global. I genuinely believe that our competitiveness has grown, and our business culture has matured. We are now going to see many more success stories of our companies expanding beyond Kazakhstan.”
SelectUSA says its investment summit has helped generate more than $250 billion in new U.S. investment projects, supporting more than 125,000 jobs across the United States and its territories.
This year marked a milestone in that evolving relationship. Kazakhstan became the first country from Central Asia and the South Caucasus to host an investment and trade roundtable at SelectUSA. The roundtable, focused on “Strategic Sectors and U.S. Market Entry Opportunities,” brought together government officials, investors, and business leaders, underscoring Kazakhstan’s transition from participant to initiative-taking player within SelectUSA.
U.S. Ambassador to Kazakhstan, Julie Stufft – image: TCA
U.S. Ambassador to Kazakhstan Julie Stufft said that a delegation of 30 Kazakhstani firms representing various business sectors has come to the U.S. for the summit to pursue trade and investment prospects. “This is a historic event for our relations and for Kazakhstani business – one that truly demonstrates the level of development Kazakhstani companies and investors have achieved, enabling them to enter the world’s largest market: the United States,” Ambassador Stufft stated.
The roundtable highlighted a clear trend: Kazakhstani firms are increasingly looking outward. Companies from sectors including manufacturing, agri-tech, healthcare, food production, and digital platforms presented plans for entering or expanding in the U.S. market, while also outlining the challenges of regulatory compliance, localization, and competition. Support from institutions like SelectUSA and the U.S. Commercial Service remains critical in navigating these complexities.
Economic conditions are also shaping this outward push. A stronger tenge may improve the purchasing power of Kazakhstani investors considering U.S. opportunities, though exchange-rate gains alone do not explain the trend. Combined with growing domestic savings and corporate maturity, this is accelerating outbound investment strategies.
Ramazan Slamkhanov, founder & managing director of CASA – image: TCA
Later in the week, reflecting on the broader atmosphere of the summit, Ramazan Slamkhanov, founder & managing director of Central Asia Strategic Advisory (CASA), pointed to the scale of engagement. “Despite global economic uncertainty, Kazakhstan remains committed to building strong business connectivity with the United States,” he said. “The level of interest we’ve seen here—from investors, officials, and entrepreneurs—shows that Kazakhstan and Central Asia are firmly on the same page. SelectUSA confirms that this is not just about attracting investment into Kazakhstan, but also about Kazakhstan investing in the U.S. While more work needs to be done, we are moving forward with confidence. ”
As Kazakhstan becomes the first Central Asian country to present projects at SelectUSA, its ambitions are sharpening. Both attracting capital and deploying it are on the rise, driven not only by large corporations but also by SMEs and entrepreneurs whose creativity and initiative are expanding the country’s global reach. For the United States, that could mean new investment, new business partnerships, and a broader commercial relationship with Central Asia’s largest economy.
