ASTANA — Kazakhstan has made substantial progress in attracting foreign investment, contributing to sustainable economic growth and improving its global position. The government is focused on creating a favorable investment climate and carrying out major international projects. These initiatives target infrastructure development, support for key economic sectors, and boosting the country’s competitiveness.
According to the National Bank of Kazakhstan, foreign direct investment (FDI) in the first nine months of 2024 totaled $12.7 billion. The United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) reported that Kazakhstan attracted $15.7 billion in new investments in 2024, marking an 88% increase from the previous year. This accounted for 63% of the total investments in North and Central Asia. In 2024, foreign investors initiated 45 projects worth $1.3 billion, creating over 6,000 new jobs.
Key projects launched include a $50 million Carlsberg production site, the first phase of the Zhetysu Wolframy plant with a $450 million investment, and the Wan Sheng Ceramic tile production facility in Shymkent. Additionally, Škoda and Hongoi car production facilities were set up in the Kostanai region, and PepsiCo invested $160 million in a project aimed at supporting local agriculture in the Almaty region, according to the Kazakh Foreign Ministry’s press service on March 19.
Noteworthy international investments include Qatari company Power International Holding’s acquisition of Tele2, Altel, and Bereke Bank, as well as Arab investor UCC Holding’s infrastructure projects. These include the construction of a new compressor station, the KS-14-Aktobe-Kostanai gas pipeline, and an additional line for the Beineu-Bozoi-Shymkent gas pipeline. These projects are vital for improving regional infrastructure and energy security.
In another development, Kazakhstan’s National Management Holding Baiterek, along with Hassad Food and Tiryaki Agro, signed a memorandum to build a $200 million grain processing plant in Astana. The facility will process up to 250,000 tons of wheat and 100,000 tons of peas annually.
The automotive industry is also expected to grow, with joint ventures involving KIA, Changan, Haval, and Chery set to begin car production in 2025.
To further attract investment, the Kazakh government is removing systemic barriers and improving regulatory transparency. New strategies, tailored to regional needs and Kazakhstan’s strengths, are being introduced. The Investment Headquarters has helped resolve 115 investor-related issues for projects worth more than $50 billion. Additionally, six investment agreements, totaling $2.3 billion, have been signed, with seven more agreements under negotiation, amounting to $7.5 billion.
The government has also launched a National Digital Platform to ensure transparency in monitoring investment projects, address issues quickly, and reduce barriers for investors.
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