Kazakhstan’s President Kassym-Jomart Tokayev has convened the 37th plenary session of the Foreign Investors Council, reaffirming its strategic role in ensuring the country’s economic sustainability and attracting international capital. Operating for over two decades, the council continues to serve as a vital platform for dialogue between the state and global business leaders.
Despite global headwinds, sluggish GDP growth, inflation, and disrupted supply chains, Kazakhstan has shown economic resilience. According to Tokayev, the country’s GDP grew by 6% in the first five months of 2025, driven by gains in transport, logistics, construction, trade, mining, and manufacturing.
New Tools to Support Investors
Tokayev announced the creation of an Investment Task Force, which has resolved issues surrounding 137 projects totaling $70 billion. To safeguard investors from undue inspections and state pressure, a “prosecutor’s filter” has been introduced.
Kazakhstan has also launched a National Digital Investment Platform, providing integrated government services through a single portal. A revised Tax Code, now under Senate review, proposes incentives for exporters and producers of high-value goods.
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Sectoral Focus: Mining, Manufacturing, and Logistics
Mining remains a key economic pillar, with major international players such as Rio Tinto, Fortescue, Ivanhoe Mines, First Quantum, and Teck Resources establishing operations in the country. The proposed tax reforms aim to stimulate the domestic processing of raw materials.
In industrial production, firms like Alstom, Stadler, and Wabtec are investing in rolling stock, manufacturing, and maintenance. Wabtec, meanwhile, is planning a $200 million investment in alternative fuel technologies.
Kazakhstan also ranks among the world’s top grain exporters and holds the sixth-largest area of agricultural land. Multinationals, including PepsiCo, Fufeng Group, and Dalian Hesheng, are investing in the agro-industrial sector, enhancing both value-added production and technology adoption.
The nation has initiated large-scale infrastructure projects: by 2029, it aims to reconstruct 11,000 km of railways and build 5,000 km of new highways. Key segments include Dostyk-Moyinty, Bakhta-Ayagoz, and Altynkol-Zhetigen. In 2025 alone, more than 13,000 km of roadworks are also scheduled. Terminal expansions at Almaty, Kyzylorda, and Shymkent airports have also been completed, increasing their combined capacity sixfold.
Digital Future and Artificial Intelligence
Kazakhstan now ranks among the top 30 countries in digitalization, according to the United Nations. Over 4,000 entities, including cryptocurrency exchanges, are registered with the Astana-based MCCE. Tokayev announced the launch of a CryptoCity pilot zone, enabling real-world digital currency transactions.
With over 89% of transactions now cashless, Kazakhstan is positioning artificial intelligence as a cornerstone of its digital sovereignty and future competitiveness.
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Foreign Investment Challenges
The forum featured remarks from key international stakeholders, including EBRD President Odile Renaud-Basso, ADB Vice President Bhargav Dasgupta, and representatives from VEON, CNPC, and Alstom, as well as Kazakhstan’s Minister of Industry, Yersay Nagaspayev, and the Head of the Association of Foreign Investors, Erlan Dosymbekov.
However, Tokayev’s pro-investment declarations come amid sobering data. For the first time in three decades, Kazakhstan lost its lead in Central Asia for foreign direct investment (FDI). According to the United Nations Conference on Trade and Development (UNCTAD), net FDI inflows were negative in 2024, at $2.55 billion, a decline of $6.3 billion year-on-year and the first such drop since 1992.
Uzbekistan emerged as the new regional leader with $2.8 billion in FDI, followed by Turkmenistan ($1.6 billion), Kyrgyzstan ($705 million), and Tajikistan ($291 million).
Globally, FDI declined by 11% to $1.5 trillion in 2024, marking a second consecutive year of contraction due to geopolitical tensions, high borrowing costs, and tightening monetary policy.
Against this backdrop, Tokayev’s calls for reforming Kazakhstan’s investment landscape carry added urgency. Analysts stress that rhetoric must be matched by action: reinforcing property rights, strengthening the rule of law, and upholding transparent, stable investment rights will be essential for regaining investor confidence.
